why trust img

Why Trust Web3Bet

Our team of experts has independently reviewed and evaluated all the products and services featured on this page to ensure you receive accurate and reliable information

The Ho Chi Minh City People’s Court handed down prison terms of 8 to 13 years for siblings Huynh Long Nhu (13 years), Huynh Long Tu (11 years 6 months), Huynh Thi Tay Ha (9 years 6 months) and Huynh Long Bach (8 years). Judges delivered the verdict late on Sept. 24 following a two-day hearing.

Thirty-nine other defendants received punishments ranging from suspended three-year terms to more than 10 years in prison. The court said the ring operated between early 2020 and late 2021 before being dismantled by police.

Inside the iGaming ring

Prosecutors said the group ran two sites Swiftonline.live and Nagaclubs.com that connected to live card-game portals from Evolution Gaming. The operation was marketed as a high-yield “investment” offering 1–1.5% daily returns, with multi-level commissions to recruit new players.

Players were herded into Telegram groups for instructions, then told to buy USDT (and other tokens) on exchanges such as Remitano and Binance before transferring funds to site wallets. Each account needed at least 20 USDT to participate, and withdrawals were permitted only above that threshold.

Scale and what comes next

At its peak, the network counted about 20,000 active users and around 25 million registered accounts, with a total betting volume near $3.8 billion. Authorities said profits financed real estate, luxury cars, and were laundered abroad; a separate money-laundering probe remains open.

Police are still seeking Bhatia Mohit, an Indian national alleged to have orchestrated the enterprise. The case has sharpened attention on Vietnam’s policy gap: cryptocurrencies are not recognized as legal tender or a lawful means of payment, yet remain widely traded loopholes the ring exploited.

Source: https://tienphong.vn/xet-xu-43-bi-cao-trong-duong-day-danh-bac-38-ty-usd-post1780511.tpo