Vietnam -- Enforcement Actions Regulatory Overview

The most significant cryptocurrency enforcement action in Vietnam over the last 3 years (April 2023–April 2026) is the ongoing fraud and money laundering investigation into the ONUS cryptocurrency platform, led by the Ministry of Public Security. This case involves billions of dollars in alleged investor funds, token manipulation, and deceptive practices, marking Vietnam's largest crypto crackdown to date.[1][2][3][5]

Key Details of the ONUS Action

• Regulator: Ministry of Public Security (MoPS).[1][2][3][5]
• Entity Targeted: ONUS cryptocurrency platform (including tokens VNDC, ONUS, and HNG), operated by Vương Lê Vĩnh Nhân (Eric Lê/Vuong Le Vinh Nhan) and associates.[2][3][5]
• Violation Type: Fraud via token price manipulation, deceptive marketing, misleading promotions, artificial trading to control supply/demand, property appropriation, and money laundering using platform infrastructure.[1][2][3][5]
• Penalty Amount: Not yet finalized; investigation targets billions of dollars in mobilized funds and investor losses (preliminary estimates in billions of USD).[3][5]
• Date: Criminal proceedings launched March 23, 2026; investigation ongoing with raids across Hanoi, Ho Chi Minh City, Da Nang, and Can Tho.[2][3]
• Outcome: At least 7–9 arrests (including Vương Lê Vĩnh Nhân and 6–8 accomplices); over 140 individuals summoned; platform operations dismantled; charges filed for fraud and money laundering.[1][2][3][5]

No other major enforcement actions with comparable scale, arrests, or financial impact appear in records from the last 3 years. Broader regulatory shifts include 2026 crypto legislation banning foreign exchanges and capping domestic licenses at 5 (effective January 1, 2026), enforced by the State Bank of Vietnam (SBV) and others, but these are policy measures without specific entity-targeted penalties.[4][6] A separate 2025–2026 U.S. sanction involved a Vietnam firm for laundering $2.5M in crypto tied to North Korea, handled by the U.S. Office of Foreign Assets Control (not Vietnamese regulators).[8]

Source URLs:

• [1] https://www.mexc.com/news/987142
• [2] https://www.mexc.com/news/988881
• [3] https://thevietnamese.org/2026/03/viet-nam-tightens-digital-control-cybersecurity-decrees-fast-tracked-as-police-arrest-crypto-exchange-operators/
• [4] https://www.ainvest.com/news/vietnam-crypto-crackdown-flow-impact-domestic-exchange-ban-2603/
• [5] https://vietnamnews.vn/politics-laws/1778787/police-crack-down-on-alleged-multi-billion-dollar-crypto-scheme-tied-to-onus.html
• [6] https://reports.tiger-research.com/p/vietnams-crypto-regulation-from-regulatory-eng
• [8] https://www.financemagnates.com/trending/us-sanctions-north-korea-it-worker-network-vietnam-firm-accused-of-laundering-25m-crypto/