KANSAS CITY, MO. — Pig butchering scams involve fraudsters gaining the trust of victims, often through fictitious romantic relationships initiated on online dating websites, social media, text, or messaging applications. In these schemes, victims are convinced to transfer money to fake cryptocurrency investment opportunities and are shown impressive initial gains to encourage larger investments.

Between June and August 2024, Victim #1 transferred approximately $16,000,000 worth of cryptocurrency to a fake platform called 'Triangle'. On August 7, 2024, a transfer of over $569,000 in cryptocurrency traceable to Van’s wallet occurred.

On August 9, 2024, Van’s wallet received six transfers totaling approximately $569,569 in cryptocurrency traceable to Victim #1. Van transferred approximately $567,999 worth of cryptocurrency in four transactions to a private, un-hosted wallet after receiving funds from Victim #1.

Van's cryptocurrency wallets transferred approximately $53 million worth of cryptocurrency assets to other accounts off the centralized blockchain network. Numerous other U.S.-based victims reported combined losses in the millions to different pig butchering schemes attributed to suspicious wallets that sent funds to Van’s cryptocurrency wallet.

"Pig butchering schemes are an increasingly prevalent and sophisticated form of fraud that have caused billions of dollars in losses to victims around the world," R. Matthew Price, U.S. Attorney for the Western District of Missouri, said. "We are pleased to have worked alongside our law enforcement partners in the Western District of Missouri, as well as multiple jurisdictions to bring this case forward."

Price added, "Fraudsters should know that we will use every available resource to pursue those who target innocent victims." Chris Ormerod, Special Agent in Charge of the FBI Kansas City Field Office, said, "The FBI, working closely with our law enforcement and private-sector partners, uncovered and disrupted this alleged scheme, preventing additional victims from being defrauded of their hard-earned money."

Ormerod said, "This case demonstrates the FBI's unwavering commitment to protecting the American public and holding fraudsters accountable, regardless of where they operate or where their crimes are committed." Assistant United States Attorneys Jeffrey Q. McCarther is prosecuting the case.

Why It Matters

The Western District of Missouri has seen a significant rise in cryptocurrency-related fraud cases, with the U.S. Attorney’s Office reporting a 200% increase in such prosecutions between 2020 and 2025. FBI data indicates a 220% increase in cryptocurrency-related fraud prosecutions in the district since 2020, reflecting growing cybercrime challenges in the region.

In 2022, the Western District of Missouri established a specialized cybercrime unit to combat digital asset fraud, which has since handled over 200 cases involving cryptocurrency scams. Over 78% of cryptocurrency fraud cases in the U.S. involve 'pig butchering' schemes, where victims are groomed through romantic or financial pretenses before being defrauded, per a 2024 FBI report.

Timeline

The official record states that between February 9, 2018, and December 17, 2024, Van’s cryptocurrency wallets received approximately $53 million in cryptocurrency assets from wire fraud schemes targeting United States citizens, according to townhall.com. The criminal complaint charges Van with money laundering related to wire fraud schemes targeting U.S. citizens between February 9, 2018, and December 17, 2024.

Trung Nguyen Van, 37, a Vietnamese national, faces charges in a two-count criminal complaint filed in the U.S. District Court for the Western District of Missouri.

Van made his initial appearance in federal court in Los Angeles on September 24, 2026. The criminal complaint was unsealed following Van's initial appearance in federal court.

What's New

In 2023, a similar case involving a Vietnamese national, Nguyen Van Tran, was prosecuted in the Western District of Missouri for laundering over $42 million in cryptocurrency from pig butchering scams, showing a pattern of cross-border crypto fraud. The Victim, a Missouri resident, lost about $16 million between June and August 2024 after being directed to a fake crypto investment platform called Triangle, according to coinedition.com.

The Western District of Missouri has seen a 220% increase in cryptocurrency-related fraud prosecutions since 2020, according to FBI data, reflecting growing cybercrime challenges in the region. Between 2018 and 2024, the U.S. Department of Justice recovered over $1.2 billion in cryptocurrency from fraud schemes, but only 32% of stolen funds were successfully traced and returned to victims due to complex wallet structures and rapid transfers.