A 37-year-old Vietnamese national has been charged in the United States for allegedly laundering cryptocurrency linked to a large-scale “pig butchering” scam that defrauded at least one victim of approximately $16 million.

Trung Nguyen Van entered the United States through the San Ysidro, California, pedestrian border crossing from Mexico on September 22. Authorities arrested him two days later, on September 24, before he could board a flight to Taiwan from Los Angeles International Airport.

According to court documents, one victim transferred around $16 million in cryptocurrency between June and August 2024 to a wallet directly associated with Van. The victim reportedly believed the funds were being invested through a cryptocurrency investment platform called “Triangle.”

After receiving the cryptocurrency, Van allegedly transferred the assets to a private, unhosted cryptocurrency wallet outside the centralized blockchain network.

The case is connected to a much larger wire fraud operation that allegedly involved more than $125 million in cryptocurrency. Investigators say Van’s cryptocurrency wallets received approximately $53.3 million between February 2018 and December 2024, including at least $24 million in assets connected to known pig butchering schemes.

According to the U.S. Department of Justice, Van’s wallets received approximately $53.28 million in cryptocurrency assets from wire fraud schemes targeting U.S. citizens during that period and transferred about $53.19 million of those assets to other accounts outside the centralized blockchain network.

Investigators said victims in the broader schemes were directed to send cryptocurrency to different websites after being approached online. The victims described similar experiences in which someone they had met online encouraged them to invest in cryptocurrency with promises of high returns. However, they were eventually unable to withdraw their funds and discovered that they had been defrauded.

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Pig butchering scams, also known as cryptocurrency investment scams or romance baiting, typically begin when criminals contact potential victims through social media, dating platforms or messaging applications. After building a relationship and gaining the victim’s trust, the scammers introduce fake investment opportunities and persuade victims to transfer cryptocurrency. The funds are then diverted to wallets controlled by the criminals.

The FBI reported that Americans lost nearly $21 billion to cyber-enabled crimes in 2025. Investment scams accounted for 49% of all scam-related complaints and caused approximately $8.6 billion in reported losses.

The case follows other major prosecutions involving cryptocurrency investment scams. In February, a Chinese national was sentenced in absentia to 20 years in prison for his alleged role in an international pig butchering operation that defrauded victims of more than $73 million. U.S. authorities have also established the Scam Center Strike Force to target cryptocurrency scam networks operating internationally.


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