Key Moments:
- Vietnamese authorities have convicted 43 individuals for participating in a cross-border illegal gambling syndicate involving over US$3.8 billion in crypto transactions.
- The operation used cryptocurrencies such as USDT and Ethereum to facilitate wagers, with around 20,000 registered users and more than 25 million gambling accounts.
- Law enforcement began investigating alleged money laundering, and an Indian national suspected of leading the network remains at large.
Convictions in One of Vietnam’s Largest Gambling Cases
A court in Ho Chi Minh City has concluded its proceedings in a major illegal gambling case, resulting in prison sentences for 43 people linked to an extensive online betting operation that utilized cryptocurrency transactions totaling more than US$3.8 billion.
The trial centered on four siblings accused of establishing and managing the network; sentencing ranged from eight to 13 years for them. The remaining 39 defendants received sentences varying from three years, sometimes suspended, to prison terms exceeding ten years.
🚨 BREAKING: Vietnam just sentenced dozens in a massive $3.8 billion online gambling and crypto case! This highlights the ongoing regulatory crackdown across Asia. Meanwhile, Australia is proposing crypto regulations with penalties up to $16.5M for breaches. The compliance…
— blockrise.crypto (@Block_Rise) September 25, 2025
How the Crypto-Based Betting Scheme Operated
Authorities described the group as maintaining a digital casino concealed by online payment platforms. The network rapidly expanded, at its peak engaging approximately 20,000 users and managing upward of 25 million gambling accounts. Wagers were reportedly made by converting Vietnamese dong into cryptocurrencies like USDT and Ethereum, then using these digital tokens via e-wallets to place bets on unauthorized platforms.
| Network Statistics | Details |
|---|---|
| Total Crypto Transactions | Over US$3.8 billion |
| Number of Registered Users | Approximately 20,000 |
| Gambling Accounts Managed | More than 25 million |
Recruitment was fueled through personal referrals and social media outreach. Investigations found that participants recruited others through platforms like Telegram, earning commissions for each new member added. This approach enabled the syndicate to expand rapidly across regions prior to exposure by authorities.
Money-Laundering Allegations and Ongoing Investigations
Following the arrests, police initiated a money-laundering investigation after uncovering evidence that illicit proceeds were used to purchase luxury automobiles, upscale residences, and were even sent overseas. While dozens have now been sentenced, law enforcement continues its search for an Indian national suspected of orchestrating the entire network.
Regulatory Clampdown and Regional Implications
Vietnam remains vigilant regarding illegal gambling and cryptocurrency as a means of payment. Since 2018, authorities have prohibited the use of digital currencies for payments, although trading digital assets exists in a grey area. Officials highlight that the growing role of crypto in online betting complicates enforcement and contributes to broader financial crime concerns.
Recent actions align with a wider trend in Southeast Asia, where multiple countries report increased illegal betting activities connected to digital currencies, prompting strengthened regulatory responses and platform restrictions.
Vietnam has also taken domestic measures against communication channels leveraged by such illicit groups. Since June, authorities have limited access to Telegram due to its use in facilitating criminal activity and disseminating misinformation.
The outcome of this case demonstrates the government’s resolve to suppress unauthorized online gambling, particularly those utilizing cryptocurrencies to evade financial regulations.
- Author
Daniel Williams
