Since the evening of 20/3, many ONUS users have experienced difficulty logging into the digital asset exchange. The application displays a message: "login error. Please check your network connection and login information".

Thinh from TP HCM, who has used ONUS for over two years, initially thought he had entered the wrong password but was unable to access the platform after multiple attempts. He tried the "forgot password" option, but still could not proceed.

"I have tokens worth nearly 200 million dong on this system, so I am very worried", he shared.

Unable to log in, many users attempted to register new accounts. However, during this process, they could only enter a password and could not proceed to subsequent steps. Some reached the stage of entering an OTP (one-time password) verification code but waited a long time without receiving the message on their phone number.

Currently, users have completely lost access to the application, meaning they cannot access their digital assets held on the exchange.

Some investors also reported that business partners who had introduced them to the application also locked their personal pages since yesterday evening. ONUS operates a network of thousands of business partners at various levels, specializing in building communities and guiding users to store assets on the platform.

On social media fan pages and groups, many users are reporting similar issues. They are demanding that the ONUS operating team provide an explanation and solutions soon, but have not yet received a response.

Users attempting to log into the ONUS application on the afternoon of 21/3 received an error message. *Photo: Tat Dat*

ONUS launched in 3/2020, a time when cryptocurrencies were gaining popularity in Vietnam. The platform is headquartered in Singapore, but its leadership is primarily Vietnamese, targeting domestic customers. The founder is Vuong Le Vinh Nhan (Eric Vuong), a technology entrepreneur specializing in fintech and blockchain.

Initially a provider of the VNDC stablecoin, pegged to the Vietnamese dong, ONUS rebranded as a financial and cryptocurrency investment application in late 2021 to expand internationally. It offers services such as: token swaps, futures markets, leverage, P2P (peer-to-peer) trading, and staking (locking a specific amount of tokens within a blockchain to earn rewards).

ONUS serves not only individual investors but also provides liquidity and a platform for numerous other partners. It developed its own blockchain network called ONUSChain, which acts as a decentralized "depository" for a range of Web3 applications and new projects.

During a data breach in late 2021, hackers revealed that the ONUS exchange had over 1,92 million accounts, 90% of which belonged to Vietnamese users. Late last year, Eric Vuong stated that the exchange had over 7 million global users, held 4 international operating licenses, and could process approximately 300.000 transactions per second.

VnExpress repeatedly attempted to contact Eric Vuong and other ONUS-related executives but was unable to connect.

In 9/2025, Eric Vuong, in his capacity as Chairman of the Board of Directors of HVA Group (HVA) - a strategic investor in ONUS - established DNEX Digital Asset Exchange Joint Stock Company. This enterprise aimed to provide exchange services under a 5-year pilot resolution for the crypto asset market. However, DNEX's charter capital was only 2 billion dong, far short of the 10.000 billion dong required by regulations.

Commenting to VnExpress, a leader of a blockchain solutions company acknowledged that, as the crypto asset market prepares for official piloting, a serious error affecting an exchange with a large number of Vietnamese users "can easily cause confusion and generate much speculation".

However, he advised users to remain calm and await an official response from the ONUS team or guidance from regulatory authorities. He emphasized the need for increased vigilance, urging users to avoid "withdrawal assistance" services from third parties, as this is a common form of fraud whenever similar incidents occur in the market.