Pincoin
Provisional: this score is the AI investigator's judgment, not yet calculated by our published formula. Treat it as indicative. How scoring works →
anchored·5pTMsE…wrWLSummary
Pincoin was an ERC-20 token issued by Modern Tech Joint-Stock Company, a Ho Chi Minh City-based firm that operated a dual-token multi-level marketing Ponzi scheme alongside a companion token called iFan. Between 2017 and early 2018, Modern Tech allegedly raised approximately $660 million USD (15 trillion Vietnamese dong) from around 32,000 investors in Vietnam by promising monthly returns of 40–48 percent and recruitment commissions. In April 2018, the company ceased all cash payments, began issuing worthless iFan tokens in lieu of returns, and then vacated its offices; eight named founders fled Vietnam and have not been extradited.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(9 events)
2017
Modern Tech JSC begins operating Pincoin ICO, soliciting investors in Vietnam with promises of 40–48% monthly returns and 8% referral commissions.
TechCrunchJune 2017
Modern Tech launches the companion iFan token, marketed as a social-media platform for celebrities, under the same MLM recruitment structure.
Finance Magnates2018
Modern Tech ceases cash payments to investors and begins issuing iFan tokens as the sole payout, valuing them internally at $5 each while market value collapses toward $0.01.
CoinTelegraphMarch 2018
Modern Tech vacates its 9th-floor Vietcomreal Building office in District 1, Ho Chi Minh City and terminates its lease. Building owner confirms the departure approximately one month later.
TechCrunch4 April 2018
Vietnamese Prime Minister Nguyen Xuan Phuc issues Directive No. 10/CT-TTg, ordering six ministries and the State Bank to strengthen management of cryptocurrency activities and investigate multi-level fraud.
CoinDesk8 April 2018
Hundreds of defrauded investors protest outside Modern Tech's former headquarters on Nguyen Hue Street, demanding return of approximately $660 million in lost funds.
Vice9 April 2018
Ho Chi Minh City standing vice chairman Le Thanh Liem issues urgent letter to city police requesting formal investigation of Modern Tech JSC for multi-level virtual currency fraud.
Vietnam News11 April 2018
CoinDesk and multiple international outlets report the scale of the fraud; Vietnamese authorities publicly confirm investigation has been opened.
CoinDesk13 April 2018
TechCrunch publishes detailed account confirming eight named founders, all reportedly having departed Vietnam; general director Ho Xuan Van's phone is found switched off.
TechCrunchDecision Log
- slot 443522572 · hash GuX4WaHuyikCPZ4s1mWMR19NmN8MKURp7uWvp2RbwhoY
- slot 443522567 · hash 6UpEBtokVqM1Z1A3eSxM74LwR9dM6EGqhkkZp6wDjDhp
- slot 423161101 · hash 62ZRBPviPiNfAG8vJQg9yJ22uuSVoK3ksEPvw4uT2VAt
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 17 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-5
generated: 5/30/2026, 12:59:17 PM
last updated: 8/29/2026, 1:32:52 AM
4 viewsavoid.net — verified advice for a post-truth world