On the afternoon of October 6, 2025, at the third quarter press conference, a representative of the Hanoi City Police officially confirmed that they were investigating suspicions related to the AntEx cryptocurrency project, which is said to have involved businessman Nguyen Hoa Binh (commonly known as Shark Binh, Chairman of NextTech Group). This is a new step forward in handling financial investment activities with signs of high risk, especially in the field of digital currency that is booming in Vietnam.
According to information from the Cyber Security Department and the Criminal Police Department (CSHS), the authorities have received the first complaint from an investor in Ninh Binh, who said he lost about 2,000 USD after investing in AntEx. The case is being expanded to collect evidence, clarify signs of fraud, property appropriation, as well as verify the Vai of related individuals and organizations.
Colonel Nguyen Duc Longing, representative of Hanoi City Police, strongly affirmed: "There are no exceptions, no forbidden zones in handling violations of the law."
AntEx once attracted attention in the technology investment community when Shark Binh announced an investment of about 2.5 million USD. The project was promoted as developing a decentralized financial ecosystem (DeFi) revolving around the stablecoin VNDT, with the ambition of turning this currency into a "global payment bridge" for Vietnamese people. However, after only a few months, the AntEx Token (ANTEX) lost up to 99% of its value, causing a series of investors to suffer heavy losses. The official website and communication channels of the project also suddenly disappeared, causing confusion in the community.
By 2023, the AntEx development team had renamed the project to Rabbit (RAB), announced a restructuring and promised to “revive” the ecosystem. However, even after the rebranding, the RAB Token price continued to fall more than 95% from its peak, and many investors considered it a “financial trap” with the same trick.
As Vietnam tightens its grip on cryptocurrency investment, the AntEx case could become one of the first high-profile cases involving the domestic blockchain and stablecoin sector. According to experts, this is a strong warning for those who are pouring money into projects that “call” themselves fintech or DeFi but lack clear licenses.
