Vietnam Seizes Over 350kg of Gold and Silver in ONUS Crypto Exchange Case

Vietnam’s Ministry of Public Security held a press conference on July 2 to outline police work carried out during the first half of 2026, including new details on the ONUS crypto exchange case. Eight defendants have been prosecuted in the case, with authorities seizing more than 350 kilograms of gold and silver and blocking transactions tied to eight real estate properties worth 200 billion VND.

How the Scheme Operated

A criminal case was opened on March 23, 2026, with eight defendants charged over using computer and telecommunications networks to appropriate property, along with money laundering. According to the Security Investigation Agency, the group had been operating since 2018, taking advantage of public unfamiliarity with cryptocurrency. They created digital accounts through apps, developed their own virtual currency, and used a network of affiliated companies to run a circular buy-and-sell scheme designed to build investor trust. Investigators say the group sold over 7,000 billion VND worth of cryptocurrency to investors through the scheme, with around 5 million user accounts opened in total.

Assets Seized and Investigation Ongoing

Police have received more than 2,000 reports from citizens connected to the case. Alongside the seized gold and silver, authorities have blocked transactions on eight properties worth 200 billion VND and suspended activity on more than 300 bank accounts linked to the defendants. Investigators are now examining the tactics used to promote the platform, including the role of social media influencers who helped attract users, and are working to determine whether any of those individuals were complicit in the scheme.

Separate Case Involves Power Grid Project

At the same briefing, the Investigation Police Agency also detailed a separate case involving the National Power Transmission Corporation, PC1 Group and related companies. Investigators found violations tied to the 500 kV circuit 3 power line project, including issues with cost estimates, tender documents, bidding procedures and account settlements.

A total of 47 defendants across 13 companies have been prosecuted on charges including bidding violations, accounting violations, asset embezzlement, and bribery. In that case, authorities have seized more than 45 billion VND and over $1 million, while lifting the freeze on securities accounts worth more than 1,756 billion VND to help recover funds for the state budget. The identities of the defendants will be released to the press at a later date.