Losing Real Money to Virtual Currency: Investors Left Penniless

Despite extensive experience in investment and technology, a seasoned investor lost their entire fortune to a fraudulent cryptocurrency exchange.

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On the afternoon of December 10th, the “Digital Asset Literacy” program, themed “Security, Compliance, and Safety for Crypto Assets,” officially launched in Ho Chi Minh City.

Real Losses from Virtual Assets

The program aims to reach 1 million learners nationwide by 2026, enhancing digital literacy, strengthening user protection, and fostering transparent, sustainable growth in the crypto asset ecosystem. This initiative is a crucial step toward the launch of the Vietnam International Financial Center (IFC) in Ho Chi Minh City, establishing competency standards, safety protocols, and a high-quality workforce for the digital financial market in this new era.

Ms. Jlo Tran, CEO and co-founder of VBI Training Academy, emphasized the strategic significance of the program. It not only enhances the capabilities of businesses, organizations, and potential investors but also standardizes awareness, behavior, and safety norms within the digital asset market.

This initiative is vital for building the necessary human resource foundation, legal understanding, and compliance culture for the upcoming operation of IFC in Ho Chi Minh City. IFC is expected to become a key driver for digital finance, fintech, and the crypto asset market in the region.

Ms. Jlo Tran speaking at the launch of the “Digital Asset Literacy” program. Photo: Ngô Tùng.

Highlighting the program’s necessity, Ms. Jlo Tran shared a recent story of asset loss involving a young investor with years of experience in securities and crypto assets. Despite their professional expertise and technological knowledge, the investor lost their entire portfolio.

“They received a notification of an incoming transaction in their personal wallet, but upon checking, the balance was zero, though the transaction history showed funds coming in and out. An email later revealed a withdrawal request from an exchange. That day, the investor lost everything, despite their extensive investment experience,” Ms. Jlo Tran recounted. Two days later, the investor reviewed their phone activity and discovered they had accessed a malicious link and received an email prompting them to log in to the exchange from a different Ho Chi Minh City address. Trusting the request, they complied, leading to the complete loss of their account days later.

17 Million Vietnamese Own Crypto Assets

According to Ms. Jlo Tran, Vietnam has a significant presence in the crypto asset market, ranking among the top 4 globally in cryptocurrency adoption in 2025, with 17 million out of 100 million people owning crypto assets. However, Vietnam also faces severe cybersecurity challenges, including financial scams with devastating consequences.

“Safety must be a top priority in this market to ensure a sustainable digital asset ecosystem in Vietnam,” the expert advised.

Experts and scientists discuss Vietnam’s crypto market and solutions for enhancing safety and transparency. Photo: Ngô Tùng.

Mr. Lê Thanh Hải, Director of the Economic Application Consulting Center at the Ho Chi Minh City Institute for Development Studies, noted: “Empowering businesses and individuals is essential for Ho Chi Minh City to achieve its goal of becoming a modern, transparent international financial center. Crypto assets and digital infrastructure will play an increasingly critical role in this endeavor.”

The “Digital Asset Literacy” program, launched by VBI Training Academy and the Ho Chi Minh City Economic Application Consulting Center, is a pivotal initiative as Vietnam transitions to international management standards in this sector.

With the National Assembly’s approval of key legal documents in 2025, including the Digital Technology Industry Law, the resolution establishing the Vietnam International Financial Center, the pilot resolution for the crypto asset market, and the Personal Data Protection Law, Vietnam is entering a new era of digital economy. In this context, the need for education on security, compliance, and legal adherence in the crypto asset market has become more urgent than ever.

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