Revisiting the AntEx Crypto Project Controversy and Shark Bình’s Statements

AntEx Digital Currency Project

Linked to Mr. Nguyen Hoa Binh (Shark Binh – Chairman of NextTech) and the AntEx cryptocurrency project—a name that once “made waves” during the crypto market’s growth in 2021—investigative reports reveal that Mr. Binh announced a $2.5 million investment in the AntEx blockchain project through the Next100Blockchain fund. He also served as a strategic advisor.

AntEx was introduced as a decentralized financial ecosystem (DeFi) with ambitions to develop the VNDT stablecoin, attracting attention from domestic investors despite the lack of legal framework for digital assets in Vietnam at the time.

Shortly after, the AntEx token plummeted, losing 99% of its value, and the project’s official website and social media channels ceased operations.

In March 2023, AntEx unexpectedly rebranded to Rabbit (RAB), but the new token also saw a steep decline, losing approximately 95% of its peak value, sparking controversy and doubts about transparency.

Recently, an anonymous former associate accused Shark Binh of playing a central role in the alleged “scam” involving AntEx/Rabbit. The accuser claimed that Shark Binh held the “wallet keys,” controlled finances, and directed token dumping after listing, labeling the project as a “rug pull.”

After years of silence, on September 24th, Mr. Binh unexpectedly commented on the AntEx project. He stated that many startups today issue coins solely to raise early capital. “They launch coins, raise $3-5 million, and then start acting recklessly. Most projects either fail to continue or fail altogether. 99% of coins end up this way: Investors lose money, while project owners profit legally,” said Shark Binh.

Mr. Binh also admitted, “Previously, I invested in a digital asset issuance project called AntEx. However, the technology team engaged in misconduct and disappeared, tarnishing the reputation of investors and advisors like myself.”

Explaining his decision to speak about AntEx after such a long time, Mr. Binh stated that he felt responsible for sharing his experience to warn the community, helping them avoid similar failures, financial losses, and reputational damage.

Shark Binh’s Iconic Statements

Beyond being a successful entrepreneur and founder of a technology business chain, Shark Binh is widely recognized for his role as a “shark” on the Vietnamese version of Shark Tank. On television, this “tech shark” is known for his straightforward, logical, and sometimes blunt but always practical approach.

Here are some of Shark Binh’s iconic statements:

“I believe startups are poor, poor in money. They’re rich in intellect and passion, but working solely on software won’t make them wealthy. You realize that selling data or content is the key to wealth. For example, Amazon loses money on Kindle devices but profits from selling books.”

“No woman prefers a six-pack over a man with six cars. So, stop hitting the gym and hit the streets to make money.”

“Your revenue model is flawed, and the market is too small and niche.”

“My view on passion is simple. It boils down to one word: ‘addiction.’ Passion is simply being ‘addicted’ to something. Working without passion is like being a soulless body.”

“If you work without passion, or in a field society doesn’t need, or mainly due to family pressure, you’ll never succeed. 99% of success stems from passion!”

“The 7-step process to find your passion includes: Try – Affinity – Passion – Act – Excel – Earn – Profession.”

“We must shift our business model. Don’t be overly proud of producing Vietnamese products in Vietnam—it’s unnecessary! We can design in Vietnam and manufacture in India. What matters is that Vietnamese intellect leads the value chain.”

“Success doesn’t come from undervaluing yourself but from valuing yourself higher.”

“There’s no substitute for hard work and patience. Don’t expect quick success—create it.”

“Don’t fear change or risk. It’s the only way to progress and succeed.”

“Seek out those better than you, learn from them, and become the best in your field.”

As reported by Tien Phong, late on October 6th, multiple Hanoi Police officers arrived at the building on Tam Trinh Street, where Shark Binh’s company is located. The task force left at 3:00 AM the following day.

During a press conference held by the Ministry of Public Security on the afternoon of October 6th, Colonel Nguyen Duc Long, Deputy Director of Hanoi Police, provided updates on the handling of complaints against Mr. Nguyen Hoa Binh and the AntEx digital currency project.

According to Colonel Long, upon receiving the reports, the Hanoi Police Investigation Agency directed relevant units to verify, gather evidence, and clarify any violations.

Initial reviews by the Cyber Security and High-Tech Crime Prevention Department (Hanoi Police) revealed a complaint from a citizen in Ninh Binh, alleging the loss of approximately $2,000 after investing in the AntEx project.