On October 14, the Hanoi City Police Department released information regarding a case involving violations at NextTech Group Joint Stock Company, chaired by entrepreneur Nguyen Hoa Binh (aka Shark Binh), and several related companies.
Shark Binh at the police station
During the investigation, the Investigative Police Agency of Hanoi City issued a decision to prosecute the case, charging Shark Binh and nine others with Fraudulent Appropriation of Property and Violation of Accounting Regulations with serious consequences. The suspects were placed in temporary detention.
According to the indictment, from November 2021 to December 2021, Nguyen Hoa Binh leveraged his reputation and influence to announce the launch of the “Next100 Blockchain” investment fund on social media. He pledged to invest in digital currency projects with a total capital of $50 million over 10 years, promoting the Antex digital currency to bolster investor confidence and prevent a mass sell-off of Antex tokens, which could devalue the currency and lead to capital withdrawal from the project.
Shark Binh working with the police
Shark Binh and his accomplices
Despite the project not progressing as planned, Nguyen Hoa Binh and NextTech’s shareholders agreed to withdraw funds from the Antex project’s main wallet, transferring them to individual digital wallets within the project. They then converted these funds into Vietnamese Dong (VND) for personal distribution. Additionally, funds were transferred to companies within the NextTech ecosystem, where they were misused, misappropriating investor capital.
To date, the Investigative Agency has determined that Nguyen Hoa Binh and the founding shareholders withdrew funds from approximately 30,000 investor wallets, embezzling an exceptionally large sum of money from investors.
Shark Binh Arrested on Fraud Charges Over AntEx Crypto Project
AntEx, a groundbreaking digital currency project, launched in September 2021, garnered significant attention when Shark Bình announced a $2.5 million investment through the Next100Blockchain fund. Beyond financial backing, Shark Bình also assumed the role of strategic advisor, further solidifying AntEx’s potential in the blockchain space.
The NextTech Ecosystem Under Shark Bình: Multiple Entities Cease Operations, Including Startup Fastgo
NextTech Group currently invests in over 20 companies across four core sectors: financial technology (fintech), e-commerce, digital logistics, and education—social media—insurance.
Before the AntEx Crypto Scandal: Shark Bình’s Nexttech Group Abruptly Slashed Capital from $21.5M to $170K; Ngân Lượng Also Cut 85% of Its Capital
Nexttech’s shareholder structure is dominated by Shark Bình, who holds a 70% stake, with the remaining shares distributed among two other investors.
Hanoi Police Collaborate with Shark Binh
Authorities in Hanoi are collaborating with Mr. Nguyen Hoa Binh (Shark Binh) to investigate allegations surrounding the AntEx cryptocurrency project, following numerous reports of financial losses and complaints circulating on social media.
The Most Painful Failure of Shark Bình
Shark Bình expressed profound disappointment following a recent statement issued by fellow investors.
