In 2022, raised 5.3 billion on Shark Tank, rejected by all 5 sharks. In 2026, arrested for asset appropriation and money laundering.
🪙 Ngo Thi Thao (also known as Hana Ngo) and her associates are accused of creating cryptocurrencies like VNDC, ONUS, HNG, and then issuing and selling them to investors through the cryptocurrency exchange ONUS.
The charges include asset appropriation via electronic means and money laundering.
🦈 What shocks many is that in 2022, Hana Ngo appeared on Shark Tank season 5, seeking to raise 200,000 USD equivalent to nearly 5.3 billion VND in exchange for 10% of HanaGold shares.
All 5 investors on the show at that time rejected her, with Shark Hung directly pointing out the risks related to cash flow balancing and gold flow. Shark Lien also asked straightforwardly about the ability to refund customers if the company went bankrupt.
📌 Reflecting back, the lesson is as clear as day, but at that moment, the model of "saving gold online from 100,000 VND" sounded quite appealing to young people wanting to save.
And that is exactly the key point that you need to remember when approaching any digital asset platform, which is that a transparent operating mechanism is more important than a good story.