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.
People & entities involved
Sources (3)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.