HANOI, VIETNAM – The Hanoi Police Department has officially confirmed it is investigating the controversial AntEx cryptocurrency project following a series of complaints from investors who claim to have lost significant amounts of money. The case has drawn considerable public attention due to its connection with prominent tech entrepreneur Nguyen Hoa Binh, famously known as "Shark" Binh, whose fund was a key investor in the project.
The investigation was formally announced after police received official complaints ("đơn trình báo") from citizens alleging fraudulent activity. The Cyber Security and High-Tech Crime Prevention Division (PA05) of the Hanoi Police is handling the case to determine if there are signs of criminal fraud in the project's operation and fundraising activities.
The Rise and Fall of AntEx
Launched around 2021 during a bull run in the crypto market, AntEx was introduced as an ambitious "Made in Vietnam" decentralized finance (DeFi) ecosystem. The project, with its native token ANTEX, attracted considerable capital, partly due to the backing of NextTech/Next100, a venture capital fund founded by Shark Binh. His high-profile status as a judge on "Shark Tank Vietnam" lent the project a veneer of credibility, encouraging many to invest.
However, after a period of initial hype, the value of the ANTEX token plummeted, losing nearly all of its value. The project eventually became inactive, its website and social media channels went dark, and investors were left unable to liquidate their holdings, resulting in substantial financial losses. The project later attempted to rebrand by swapping ANTEX tokens for a new token called RAB, a move that failed to revive its fortunes and was seen by investors as an attempt to erase its troubled history.
Shark Binh's Position
In recent public statements, Shark Binh has addressed the AntEx controversy, positioning himself as one of its victims. He admitted to having invested in the project but claimed that the project's development team engaged in wrongful conduct and subsequently "disappeared," leaving investors and advisors like himself to face the fallout. He referred to the experience as "painful" and a lesson in the high risks of the digital asset market.
Despite these claims, the investigation by Hanoi Police will seek to clarify the full extent of involvement and responsibility of all parties connected to AntEx. The case is a stark reminder of the perils within the largely unregulated cryptocurrency landscape in Vietnam and could become a landmark case in holding project backers accountable.
CaliToday.Net
