Vietnamese National Charged with Money Laundering in Cryptocurrency Scheme

A Vietnamese national has been charged with money laundering in connection with an alleged cryptocurrency 'pig butchering' scheme that authorities say defrauded a victim of millions of dollars. Trung Nguyen Van, 37, was charged in the Western District of Missouri with two counts of money laundering.

The scam, known as 'pig butchering,' involves scammers establishing relationships with victims online and persuading them to invest in fraudulent cryptocurrency schemes. Authorities say pig butchering operations have generated billions of dollars in losses worldwide and affected millions of Americans.

Van's alleged scheme targeted a victim who transferred approximately $16 million in cryptocurrency between June and August 2024, believing it was being invested through a platform called 'Triangle.' Investigators allege that Van laundered the funds by transferring them to a private, unhosted cryptocurrency wallet outside the centralized blockchain network.