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ADVANCED SECURITY EUROPA
EOODThe Butchered Dreams: Vietnamese National Charged in $16 Million Cryptocurrency Scam
29 September 2026A Vietnamese national, Trung Nguyen Van, was charged with money laundering in connection with a $16 million cryptocurrency scam.
Van was arrested in the US after entering through the Mexico border and attempting to fly to Taiwan.
The victim transferred $16 million in cryptocurrency to Van's wallet, believing they were investing in a platform called "Triangle." Van then moved the funds to a private crypto wallet off the blockchain network.
Court documents reveal that Van's wallet received over $53 million from wire fraud schemes, with $24 million linked to "pig butchering" scams.
These scams involve luring victims into fake investment schemes through social media and dating sites.
The FBI reported that Americans lost $21 billion to cyber crimes last year, with investment scams making up a large portion of the losses.
Van's arrest comes after a Chinese national was sentenced to 20 years for a similar scam, and the US established a task force to combat Chinese cryptocurrency scam networks.
