Once celebrated as inspiring figures in entrepreneurship on television, the “sharks” of Vietnam’s Shark Tank have recently been embroiled in controversies related to investment and business, with some even facing legal repercussions.
Shark Bình and the AntEx Cryptocurrency Project
Shark Bình, whose real name is Nguyễn Hòa Bình, was born in 1981 in Hanoi. He graduated with a degree in Information Technology and holds a Master’s in Urban Informatics from Japan.
In 2001, at just 19 years old, he founded PeaceSoft, a software company that later evolved into the NextTech ecosystem. This ecosystem operates in fintech, e-commerce, and logistics, with brands like NgânLượng.vn, BoxMe, mPOS, and Vimo.
Beyond his role as an entrepreneur, he is also known as a “shark” on Shark Tank Vietnam. Recently, Shark Bình has been in the spotlight due to controversies surrounding the AntEx cryptocurrency project.
Shark Bình on Shark Tank Vietnam
During a press conference on October 6, 2025, Colonel Nguyễn Đức Long, Deputy Director of Hanoi Police, addressed concerns about the AntEx cryptocurrency project.
He noted that following reports on social media and in the press about individuals losing money due to the project, and amid accusations between Shark Bình and the AntEx development team, Hanoi Police had directed relevant units to investigate and take strict legal action.
The Cyber Security and High-Tech Crime Prevention Department of Hanoi Police received a complaint from an individual who lost tens of millions of dong after participating in the AntEx project. The case is under investigation.
On the same day, police visited the NextTech Group headquarters at 18 Tam Trinh, Hanoi. The following day, Shark Bình was summoned for questioning regarding the allegations against the AntEx project.
Launched in September 2021, AntEx was touted as a decentralized financial ecosystem (DeFi), aiming to create a decentralized exchange, digital wallet, and other financial applications.
Shark Bình announced a $2.5 million investment in AntEx through the Next100Blockchain fund and served as a strategic advisor. However, the AntEx token soon plummeted, losing 99% of its value, and the project’s website and social media channels went inactive.
In March 2023, AntEx rebranded as Rabbit (RAB), but the new token also saw a steep decline, losing approximately 95% of its peak value.
Shark Thủy Faces Legal Charges for Fraud
Shark Thủy, whose real name is Nguyễn Ngọc Thủy, is the Chairman and CEO of Egroup Education Corporation, specializing in education and healthcare.
In late March 2025, Shark Thủy was arrested and charged with “Fraudulent Appropriation of Property” by the Police Investigation Agency for Corruption, Economy, and Smuggling (C03) in connection with Egroup and related entities.
Shark Thủy, Chairman and CEO of Egroup Education Corporation
Investigations revealed that from 2015 to 2023, Shark Thủy used Egame to engage in fraudulent activities, including selling non-existent shares of Egroup, exchanging real estate for shares, and issuing fake shares as collateral for loans.
During the investigation, Shark Thủy was also charged with bribery. By September 2025, 19 individuals were prosecuted for fraud in connection with the case.
Shark Tam Convicted of Tax Evasion and Smuggling
Phạm Văn Tam, known as Shark Tam and former Chairman of Asanzo, faced legal issues related to tax evasion and smuggling.
On September 17, 2025, the Ho Chi Minh City People’s Court sentenced him to a fine of 2 billion dong for tax evasion and 4 years and 6 months in prison for smuggling, with an additional fine of 100 million dong.
Shark Tam, former Chairman of Asanzo
Through Asanzo, Shark Tam signed contracts with Trần Thoàn to assemble air conditioners without issuing invoices or declaring taxes. The company used illegal invoices to account for input taxes, evading over 15.7 billion dong in taxes from 2017 to Q2 2019.
Regarding smuggling, Shark Tam used Sa Huỳnh to import goods without accurate declarations, avoiding quality checks. The smuggled goods were valued at 414.7 million dong as of September 2018.
Shark Khải and Business Scandals
Hoàng Khải, Chairman of Khải Silk, was announced as an investor on Shark Tank Vietnam’s first season but later withdrew to focus on his company.
Shark Khải, Chairman of Khải Silk
In October 2017, a Khải Silk product was found with dual labels: “KHAISILK – Made in Vietnam” and “Made in China.” Mr. Khải apologized and admitted to selling Chinese-made silk products.
Further investigations by the Ministry of Industry and Trade revealed that Khải Silk products contained no silk, leading to charges of selling counterfeit goods, tax evasion, and misleading consumers.
Shark Bình’s Philosophy: “Do No Harm”
Shark Bình firmly believes in the principle of “never taking anything without giving something in return.”
Revisiting High-Profile Cases of Corporate ‘Sharks’ Snared by the Law
Once celebrated as iconic “sharks” on television, inspiring entrepreneurship across the nation, Shark Phạm Văn Tam (Asanzo) and Shark Nguyễn Ngọc Thủy (Egroup) now find themselves entangled in legal battles. These high-profile cases are leaving profound lessons for the business and startup communities.
Police Presence Reported at Building Housing Shark Binh’s Company Headquarters
Late in the evening on October 6th, numerous Hanoi police officers arrived at a building on Tam Trinh Street, home to a company owned by Mr. Nguyen Hoa Binh (Shark Binh). The task force remained on site until 3 a.m. the following morning.
Unveiling the Shadows of Hoàng Hường’s Empire: Are There More Hidden Violations?
The Ministry of Public Security’s Investigation Police Agency has officially pressed charges and initiated legal proceedings against Hoang Thi Huong, the owner of the “Hoang Huong Ecosystem,” for “Violating Accounting Regulations with Serious Consequences.” However, legal experts suggest that the case may extend beyond this specific violation, potentially revealing indications of additional unlawful activities.
Hanoi Police to Address All Cryptocurrency-Related Complaints Against Shark Binh
Colonel Nguyễn Đức Long stated that Hanoi Police will address all complaints related to the Antex cryptocurrency involving Shark Bình, with no exceptions or restricted areas.
