Vietnam Sentences 43 People in $3.8 Billion Crypto Gambling Case

Vietnamese courts have sentenced 43 people for operating one of the country’s largest-ever illegal online gambling schemes, which processed around $3.8 billion through cryptocurrencies.

According to local authorities, the network used USDT and other cryptocurrencies to facilitate illegal bets, attracting up to 20,000 regular users nationwide. Investigators uncovered transactions worth more than VND 97 trillion (approx. US$3.8 billion), making it one of the biggest gambling and money laundering cases in Vietnam’s history.

The court handed down punishments ranging from fines and suspended sentences to prison terms of up to 20 years for ringleaders. Four brothers identified as masterminds of the operation received some of the heaviest penalties. Participants were convicted of illegal gambling, organizing bets, and laundering money through complex chains of crypto wallets.

Authorities stressed that the crackdown shows the government’s determination to combat both online gambling and illicit crypto activities. Police officials said the operation had caused social harm, with gambling debts spreading through households and significant tax revenue lost.

This case follows a series of high-profile actions in Vietnam targeting unlicensed betting networks. Regulators continue to warn about the risks of illegal platforms and the growing intersection of gambling with digital assets.