NextTech Office Searched Amid AntEx Scandal
Police Work for Hours at Shark Bình’s NextTech Headquarters
On October 7, Hanoi Police confirmed they were “working” with businessman Nguyễn Hòa Bình (Shark Bình), Chairman of NextTech Group, after spending several hours at the company’s headquarters on Tam Trinh Street, Hai Bà Trưng District. Authorities have not yet released any further details about the ongoing investigation.
Several boxes of documents were taken away under police supervision on the evening of October 7. Photo: Linh Đan.
Dozens of Sealed Boxes Taken Away
On the evening of October 6 and throughout the following day, numerous police officers and riot control units appeared at No. 18 Tam Trinh Street — the headquarters of NextTech. By late night on October 7, dozens of sealed boxes containing documents were loaded onto trucks and transported away under tight police supervision.
Police appeared at Shark Bình’s company headquarters on Tam Trinh Street on the evening of October 6. Photo: Huy Mạnh
Background: AntEx Crypto Project Under Scrutiny
The investigation comes amid growing controversy surrounding the AntEx cryptocurrency project, which was associated with Shark Bình. Launched in September 2021, AntEx was promoted as a full DeFi ecosystem, including a VNDT stablecoin pegged to the Vietnamese dong. However, soon after listing, the ANTEX token plunged by more than 99% in value, causing major losses for investors.
Shark Bình’s Role in the AntEx Project
Nguyễn Hòa Bình reportedly invested USD 2.5 million into AntEx through his Next100 Blockchain fund and was introduced as the project’s strategic advisor. In recent weeks, AntEx developers accused him of directly ordering liquidity withdrawals — a move that allegedly caused the project’s collapse and wiped out investor funds. Shark Bình, on the other hand, insisted he was also a victim, claiming to have lost his investment and suffered reputational damage.
AntEx Rebranded to Rabbit but Continued to Crash
After its dramatic crash, AntEx halted most operations and, in March 2023, announced a rebranding to Rabbit (RAB). Holders could swap 1,000 ANTEX for 1 RAB, but many saw this as an attempt to erase the project’s collapsed price history. Despite the rebrand, RAB also plummeted on exchanges, leaving its value nearly worthless.
Police Investigation Underway
During a Ministry of Public Security press briefing on October 6, Hanoi Deputy Police Chief Nguyễn Đức Long confirmed that the department had received complaints regarding AntEx. One investor from Ninh Bình reported losing USD 2,000 after participating in the project. Authorities are currently collecting documents and examining possible violations.
Shark Bình and NextTech’s Reputation at Stake
At 44, Shark Bình is a well-known Vietnamese tech entrepreneur often dubbed the “Tech Shark.” As founder and chairman of NextTech Group — nicknamed “Vietnam’s Alibaba” — he built one of the country’s most influential internet ecosystems from 2007 to 2017. This latest controversy, however, may pose a serious threat to both his personal reputation and his company’s credibility in the tech community.
Legal Uncertainty and Public Reaction
The legal status of the case remains unclear as authorities continue their investigation. Online, public opinion is divided: some argue Shark Bình should be held accountable as a project leader, while others believe he was deceived by his partners. Regardless, the case has sparked intense public attention, highlighting the high risks surrounding unregulated crypto projects in Vietnam.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.