On the afternoon of October 6, during a press briefing by the Ministry of Public Security, the Hanoi Police shared official information regarding the AntEx crypto investment case.

Colonel Nguyen Duc Long, Deputy Director of Hanoi Police, provided updates on the investigation into the AntEx cryptocurrency project associated with businessman Nguyen Hoa Binh, widely known as “Shark Binh.”

Colonel Long said that in recent weeks, multiple social media posts and press reports have surfaced claiming that many investors lost money after participating in the AntEx project. There have also been mutual accusations between Nguyen Hoa Binh and the project’s development team, drawing significant public attention.

In response, the Ministry of Public Security and Hanoi Police have reviewed the case, directing specialized departments to verify all related information.

“So far, the Hanoi Police have received one official complaint from L.N.H., a resident of Ninh Binh Province. He reported losing about $2,000 after investing in the project,” Colonel Long confirmed. “The case has been officially registered and is under investigation by the relevant division.”

The Deputy Director emphasized that every submitted complaint will be handled in accordance with the law  -  “without exceptions or forbidden zones.”

Born in 1981, Nguyen Hoa Binh is the Chairman of NextTech Group and a well-known figure in Vietnam’s technology and startup ecosystem.

His official fanpage has stirred heated debates over cryptocurrency projects. Binh has stated that many startups launch tokens, raise millions of dollars, and then vanish, leaving investors at a loss. He admitted to having had “expensive lessons” from crypto since 2017.

In 2021, through his fund Next100Blockchain, Binh invested $2.5 million in AntEx, a decentralized finance (DeFi) project that received wide publicity. However, soon after, the AntEx token lost 99% of its value, and the project’s website and communication channels disappeared. In 2023, it was rebranded as Rabbit (RAB) with a 1,000:1 conversion rate  -  yet the new token also fell 95% from its peak, leaving investors nearly empty-handed. Binh described this as “a cautionary lesson for SMEs.”

On his fanpage, Binh accused the project’s CTO of “rug-pulling”  -  withdrawing liquidity and defrauding investors  -  which, according to him, caused damage to shareholders’ reputations. “I wanted to report this to the authorities, but after consulting several legal agencies, I realized it was risky without solid evidence. In crypto, you win or lose depending on others’ integrity,” he said.

Several individuals on social media have also claimed to be victims of AntEx, alleging they were defrauded and have since filed complaints with the authorities awaiting resolution.

When will results be released? Police clarify investigation timeline

The Hanoi Police have begun investigating L.N.H.’s report regarding his $2,000 loss from the AntEx project. The case follows a series of public disputes between Nguyen Hoa Binh (Shark Binh) and the project’s founding team.

According to Colonel Nguyen Duc Long, all complaints will be handled strictly under legal procedure, with no exceptions.

Legal expert Dr. Dang Van Cuong explained that individuals or organizations who invested in the project and suspect fraud have full legal rights to file a criminal complaint with Hanoi Police. They must provide supporting evidence such as investment contracts, proof of fund transfers, promotional materials, and any other documentation.

Upon receiving a complaint, the police are required to log the report, collect evidence, and verify facts in accordance with criminal procedure law.

By regulation, the verification process should conclude within two months  -  resulting in either the initiation or rejection of a criminal case. For complex cases, this period may be extended by another two months to allow for further evidence collection.

If investigators find proof of deception or fraudulent intent to appropriate assets, they may initiate criminal proceedings and prosecute those responsible. However, if the project was legally formed and failed due to objective reasons, no charges will be filed.

Dr. Cuong noted that while social media discussions have pointed fingers at Shark Binh, he himself claims to be a victim who lost money in the same project.

“The investigation will clarify who launched and managed the project, where the invested funds went, and whether any fraudulent activity occurred,” he said. “If evidence shows the project merely failed as an investment, police will close the case without prosecution. But if fraud is found, a criminal case will be opened.”

Dr. Cuong added that Binh himself could request the authorities to verify the case. “If he truly lost money as well, the investigation will be an opportunity to clear his name and bring transparency to the matter.”

Dinh Hieu - T. Nhung