Pincoin / iFan (Modern Tech)
Two ICO tokens promoted in Vietnam by Modern Tech as MLM investments advertising up to 48% monthly returns. Widely reported as a ~$660M exit scam affecting ~32,000 people, though later Vietnamese investigation said those figures were inflated.
Also known as: Pincoin, iFan, Modern Tech
Summary
Pincoin and iFan were two ICO tokens promoted in Vietnam by Modern Tech as multi-level-marketing investments, advertising monthly returns as high as 48%. After paying early returns, the operators began paying in illiquid tokens and then went silent in 2018. [1][2]
Disputed scale
Protesting investors reported losses of about VND15 trillion (~$660 million) affecting roughly 32,000 people — a figure widely reported internationally. [1][2] Vietnamese investigators later indicated the protest-organizer figures were inflated and that the true scale was difficult to establish. [3]
Status
Authorities opened an investigation; the operators reportedly vacated their office and could not be reached. [2][3]
Bracketed numbers refer to the numbered sources listed below.
Sources (3)
See also
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
$MELANIA tokenMarket manipulationA Solana memecoin announced by Melania Trump on Jan 19, 2025. Per FT analysis, ~24 wallets bought in minutes before the public announcement and netted ~$99.6M as retail piled in; the token then fell 95%+. Early buys were traced to wallets linked to $LIBRA figure Hayden Davis. No charges have been filed.
This page was last updated on Jun 15, 2026. View revision history.