On the afternoon of October 14th, Hanoi Police officially announced information regarding the case of Mr. Nguyen Hoa Binh (also known as Shark Binh, 44 years old), Chairman of NextTech Group.
According to authorities, the announcement came more than a week after police forces appeared at 18 Tam Trinh Street, Vinh Tuy Ward, the headquarters of NextTech.
Currently, detailed information about the case, the scope of the investigation, and the individuals involved are still being clarified by Hanoi Police.
Where Did the Controversy Begin?
The incident began on September 24th when Mr. Nguyen Hoa Binh (Shark Binh) hosted a livestream on social media and unexpectedly mentioned the AntEx project, a digital currency platform associated with him since 2021. In his notable speech, he candidly stated, “Many startups today issue coins solely to raise early capital. They launch coins, collect a few million USD, and then start acting unethically. Most fail to continue or simply fail. 99% of coins end up this way – investors lose money, while project owners profit legally.”
Shark Binh and the controversy surrounding the AntEx digital currency project
Shark Binh explained that the reason he spoke out after many years was to share his real experiences to warn the community and prevent similar mistakes that cost him “money and reputation.” However, this statement quickly sparked public outrage, as he himself was once an investor and developer of AntEx – a project currently under investigation.
Two days later, on September 26th, he hosted another livestream on his personal fan page, discussing “Cryptocurrency Assets – Opportunities and Risks.” During the session, he admitted to lacking in-depth knowledge of blockchain but maintained that the technology “has not yet created real value,” calling it merely “a game of big nations.” This statement caused significant controversy within the cryptocurrency community.
Shortly after, an anonymous post appeared on the Facebook group “Tuesday.danglonbank.vn,” refuting all of Shark Binh’s statements. The author accused Mr. Binh of being behind the collapse of AntEx, claiming he directly invested $2.5 million in the project, held the “wallet key,” and appointed NextTech’s chief accountant as CFO to control all financial flows.
The post also denied allegations of token price manipulation, arguing that Shark Binh himself directed the token dump immediately after AntEx was listed on the OKEX exchange. It questioned, “Where is the initial $2.5 million investment now?” The author claimed to have evidence and demanded Shark Binh disclose his financial records transparently.
Facing public pressure, Mr. Binh responded on his verified Facebook account, posting two consecutive statements asserting he was being slandered. He said, “My goal is to expose the traitors hiding in the shadows who have tarnished my reputation for years.”
He also challenged the accuser to appear publicly in a livestream for a direct confrontation to clarify the matter.
Shark Binh specifically named the person behind the incident as “LVL (or LL),” a former technical employee he once trusted and “helped many times.” According to him, this individual was appointed as AntEx’s CTO, with full access to the system: “I made a mistake by giving him the Key, Code, and Blockchain wallet…”
Mr. Binh accused this person of installing backdoor code, stealing developers’ tokens, and executing a “rug pull” that severely harmed investors, before disappearing with the data. AntEx shareholders, he claimed, had gathered evidence to work with authorities, but the case faced challenges due to the lack of cryptocurrency regulations in Vietnam and the ease of erasing or anonymizing digital traces.
Shark Binh described the circulating information as “one-sided and intentional,” suggesting the anonymous poster might be the same technical group that once manipulated the AntEx system.
Subsequently, both sides continuously released evidence and accusations on social media, complicating the situation further.
Later, Hanoi Police intervened to investigate allegations related to the AntEx digital currency project. Authorities appeared at Shark Binh’s company and residence, taking away numerous boxes of documents, causing public speculation.
Quietly Removing Livestream Videos
Recently, public attention was drawn when netizens discovered that the official fan page “Shark Nguyen Hoa Binh” – with over 713,000 followers – underwent unusual changes. The introductory video and all videos from the livestream “Leadership Mindset in Turbulent Times” held on October 6th disappeared without a trace, with no clear reason provided.
Simultaneously, VIMO Technology Joint Stock Company – a member of the NextTech ecosystem – issued an official letter to partners and customers, confirming that Hanoi Police were investigating the case involving Mr. Nguyen Hoa Binh (Shark Binh) and the AntEx digital currency project. The company emphasized that AntEx was Shark Binh’s personal investment project, unrelated to the company’s operations or ownership.
Shark Binh before the digital currency controversy
“My Life is Filled with Failures”
Before the video was removed, the October 6th livestream attracted thousands of viewers, peaking at over 5,000 simultaneous viewers. During the session, when asked about facing failure, Shark Binh shared:
“My life is filled with failures. I’ve nearly gone bankrupt 5-6 times in over 20 years of business. Each time, I learned a new lesson in resilience.”
He recounted that during his most challenging times, he chose to stay calm and rest to regain balance, then reflect: “Is my business still relevant or has it become outdated? Should I rest or wait for the right time?” – a statement reflecting the mindset of a seasoned tech entrepreneur who has weathered many storms in the business world.
The “Shark’s” Entrepreneurial Journey
Nguyen Hoa Binh, born in 1981, is considered one of Vietnam’s pioneering tech entrepreneurs. He studied at Hanoi National University and earned a master’s degree in information management from Osaka University (Japan). Even as a student, he stood out with his passion for programming, winning awards in competitions like Vietnam Intelligence, Vifotec, and Young IT Talent…
At just 19 years old, he founded Peacesoft Software Solutions Joint Stock Company – one of Vietnam’s earliest tech startups. The project quickly attracted investment from major U.S. corporations.
Later, he restructured Peacesoft into NextTech Group, expanding it into a “digital ecosystem” model with over 20 e-services operating in Vietnam and 8 other markets in Southeast Asia and China. NextTech’s key areas include e-commerce, fintech, logistics, and digital education.
Mr. Nguyen Hoa Binh during his years on Shark Tank
From 2007 to 2017, NextTech was likened to “Vietnam’s Alibaba,” ranking among the top 10 companies most influential in the country’s internet development. Mr. Nguyen Hoa Binh was voted one of the most prominent tech figures. His name became even more familiar after joining Shark Tank Vietnam, known for his straightforward and decisive investment style.
By the end of 2020, Mr. Nguyen Hoa Binh and Mr. Nguyen Huy Hoang contributed 400 billion VND, owning 80% of NextTech Group’s charter capital, with the remainder held by other shareholders. NextTech’s headquarters is located at VTC Online Building, 18 Tam Trinh, Hanoi.
Over two decades of development, NextTech has owned many notable brands such as FastGo, mPOS, VIMO, NganLuong.vn, Boxme… However, not all projects have succeeded. Once-prominent brands like Shipchung.vn, Weshop, and Chodientu.vn have ceased operations or withdrawn from the market.
Others, like FastGo, remain operational but at a minimal level, while Boxme and NganLuong.vn continue to operate steadily within the ecosystem.
In recent years, Shark Binh has appeared less frequently in tech forums, focusing instead on his role as an individual investor.
What Was Shark Bình Plotting Before His Arrest by Reviving the Digital Currency Scandal Online?
From the “shark” sensation on television, Shark Bình has become the focal point of a cryptocurrency fraud case in Vietnam. Prior to his arrest, Bình himself took to social media, claiming to be a “victim” after investing in the AntEx cryptocurrency project. The public is now left wondering: what is this ‘shark’ truly scheming?
Portrait of the Successor to Shark Bình as CEO of NextTech Group
There has been a significant shift in leadership.
Hanoi Police Release Details on Shark Binh Case
In connection with the case of Shark Binh (aka entrepreneur Nguyen Hoa Binh), the Hanoi City Police will hold a press conference to release official information.
Shark Bình Arrested
Renowned entrepreneur and investor, Mr. Nguyen Hoa Binh, widely known as Shark Binh, has been charged with fraud and embezzlement, along with violations of accounting regulations resulting in severe consequences.
What Did Shark Bình Say Before His Home Was Raided and He Was Taken into Custody?
This information is spreading like wildfire.
