Vietnamese authorities have detained several suspects linked to ONUS over allegations they used misleading promotions and manipulated token trading to misappropriate investor funds.
The Ministry of Public Security said Thursday that the probe focuses on a group accused of marketing digital tokens on the ONUS platform through deceptive promotions and coordinated trading activity. Authorities allege the group manipulated supply and demand, adjusted token prices, and presented the assets as legitimate investments while retaining centralized control over their markets.
Investigators identified several individuals in connection with the case, including Vuong Le Vinh Nhan, linked by Vemanti to XPLOR, the parent firm of ONUS Pro; Tran Quang Chien, described in Vietnamese reports as the exchange’s technical administrator; and Ngo Thi Thao, director of HanaGold Jewelry JSC.
Authorities said the suspects allegedly created and promoted tokens such as VNDC, ONUS, and HNG via the platform. Police claim the scheme raised billions of dollars from investors, though no detailed breakdown of losses has been disclosed.
The case adds to growing scrutiny of crypto-related activity in Vietnam, one of the world’s most active retail digital asset markets.
Vietnam expands ONUS fraud investigation
According to the Ministry of Public Security, the arrests are part of a multi-agency probe spanning several cities, with authorities summoning more than 140 individuals for questioning and seizing evidence in a broader crackdown on large-scale crypto-related fraud.
On Thursday, Vemanti said it became aware of the indictments of Vuong Le Vinh Nhan and Tran Quang Chien through the ministry’s announcement and local media reports, adding that it has engaged US legal counsel to evaluate the situation. The company identified Nhan as its board chairman and Chien as a board member.
The ONUS platform markets itself as a digital asset ecosystem offering trading, staking and investment services, claiming more than seven million users and backing from the US-based fintech firm Vemanti Group.
Its official X account has over 885,000 followers. However, data from CoinMarketCap shows the ONUS token has a self-reported market capitalization of roughly $25 million, underscoring a gap between the scale of alleged losses and publicly available figures.
ONUS has not issued an official statement addressing the situation.
India case highlights broader scam network risks
In a separate case, Central Bureau of Investigation said Thursday it had arrested a Mumbai-based suspect accused of facilitating the trafficking of victims to scam compounds in Myanmar, where they were allegedly forced to carry out online fraud schemes, including crypto investment and romance scams.
The agency said victims were lured with job offers in Thailand before being diverted to scam centers in Myanmar’s Myawaddy region, where they were subjected to confinement, intimidation and abuse while being made to target victims worldwide.
