ChainTracer, the blockchain transaction tracing project developed by the Vietnam Blockchain and Digital Asset Association, has once again cooperated with authorities in the process of tracing and verifying data related to the AntEx project, affirming that blockchain meets tracing requirements well at any time.
On the afternoon of October 14, 2025, the Hanoi City Police held a press conference to provide press information on a number of typical cases and incidents in the recent past related to the economic and environmental fields, chaired by Major General Duong Duc Hai, Deputy Director of the Hanoi City Police. At the press conference, Colonel Thanh Kien Trung, Deputy Head of the Department of Investigation Police on Corruption, Economic and Smuggling Crimes (PC03) of the Hanoi City Police, said that the unit had prosecuted the AntEx case and the defendant Nguyen Hoa Binh (Shark Binh) with 9 accomplices.
Accordingly, from August 2021 to November 2021, this group issued and sold 33.2 billion Token to about 30,000 investors, earning 4.5 million USDT in e-wallets on the exchange, equivalent to 4.5 million USD, about 117 billion VND.
Up to now, the police have determined that Nguyen Hoa Binh and the founding shareholders have withdrawn money from 30,000 wallets of investors, and have temporarily detained and frozen money, securities accounts, and assets of the subjects with a total value of about 900 billion VND such as 597 gold bars, US dollars, 18 red books, 02 cars...; seized many documents, certificates, books, devices, electronic devices... related.
During the investigation of the case, ChainTracer - a project to warn, trace and intermediary to support the investigation of fraud, cheating or signs of law violations on blockchain networks and digital assets developed by the Vietnam Blockchain and Digital Assets Association (VBA) has made many contributions and supported the authorities in the tracing process.
Mr. Tran Huyen Dinh, Head of ChainTracer project, Head of VBA Fintech Application Committee, said that ChainTracer's team of experts has analyzed, traced and modeled the entire cash flow on the blockchain, helping authorities identify Token movements between wallets, exchanges, and related addresses.
Mr. Tran Huyen Dinh, ChainTracer Project Manager, Chairman of VBA Fintech Application Committee“By applying the latest on-chain analysis technology, ChainTracer has identified suspicious wallet clusters, traced money flows, and supported technical contacts with domestic and foreign exchanges to provide data for KYC/KYB information comparison to clarify the identity and Vai of related individuals,” Mr. Tran Huyen Dinh Chia .
The ChainTracer project manager also said that the process of tracing transactions related to the AntEx virtual currency project has some significant advantages thanks to the characteristics of blockchain technology. All transactions are stored publicly, transparently and cannot be edited or deleted, helping to analyze and trace the flow of money accurately and quickly even though the incident has been going on for more than 3 years, unlike the traditional fraud model where individuals can erase evidence or service providers no longer store information.
“However, the biggest difficulty is the lack of cooperation from some international exchanges, even though the Vietnamese police have officially requested cooperation. Some exchanges such as Gate and MEXC have not responded or provided information in a timely manner, causing difficulties in identifying and tracing the final beneficiaries,” Mr. Dinh revealed.
From the recent consecutive fraud cases in the field of crypto assets, Mr. Tran Huyen Dinh recommends that investors need to continuously update their knowledge, be cautious with projects that promise high interest rates or lack clear information, and should only participate when they clearly understand the operating mechanism or have verification from reputable units.
“Forms of fraud in the crypto asset market are increasingly sophisticated, with many projects disguised as investments, profit funds or attractive DeFi platforms. I believe that the Law on Digital Technology Industry and Resolution No. 05/2025/NQ-CP will help the market be managed more closely and transparently, contributing to protecting investors and minimizing fraud risks. In case of property appropriation, investors should promptly report to the police for timely support,” said Mr. Dinh.
To date, ChainTracer has received and assisted in tracing 65 cases with an estimated total loss of up to 10 million USD. Most recently, ChainTracer has coordinated with authorities to successfully dismantle the virtual currency investment fraud ring “WorldMall.app” (WM coin), appropriating tens of billions of VND from thousands of Vietnamese investors. ChainTracer once again affirms Vai in supporting authorities in tracing transactions that have occurred at any time.
