Vietnamese Siblings Arrested in $3.8 Billion Crypto Gambling Scheme

Authorities Crack Down on One of Vietnam’s Largest Illegal Betting Operations

Vietnamese law enforcement has arrested a group of individuals, including four siblings, accused of running an illegal online gambling network that processed nearly $3.8 billion in bets. Disguised as a cryptocurrency investment scheme, the operation attracted thousands of participants, allowing them to gamble using digital assets such as Ethereum (ETH), Tether (USDT), and Naga tokens.

The network, operating through the platforms Swiftonline.live and Nagaclubs.com, misled users by promising commissions for recruiting new members. Meanwhile, organizers allegedly pocketed millions of dollars from the illicit gambling activities. Authorities revealed that the scheme was masterminded by a 32-year-old individual, identified as H.L.N., who managed the platform alongside his brothers, H.L.T. and H.L.B., and their sister, H.T.H.T.

In total, 30 other suspects were arrested, while law enforcement continues to investigate potential additional accomplices. The illegal operation reportedly ran from early 2020 to late 2021, with over 25,000 user accounts registered across both gambling platforms.

Financial Impact and Ongoing Investigation

According to investigators, Swiftonline.live generated approximately $2.2 million for its operators, while Nagaclubs.com, overseen by H.L.B., reportedly earned more than $2.5 million. The authorities are still determining the full extent of the financial transactions and identifying further individuals involved.

Charges vary among the suspects, with some facing allegations of both gambling and organizing illegal gambling. The investigation is ongoing, and additional arrests may follow as authorities work to dismantle the wider network behind the scheme.