Antex case overview, the traitorous younger brother revealed his cards, Shark Binh was sentenced to life in prison?

On October 14, 2025, the news that Shark Nguyen Hoa Binh (born in 1981) was prosecuted and temporarily detained became a shocking event, ending a series of complicated developments in one of the biggest technology - financial cases of the year.

The incident originated from the " AntEx digital currency" (AntEx) project launched in 2021. Shark Binh and a number of individuals contributed 5 billion VND (2 billion from Mr. Binh personally). The AntEx project was built with a plan to issue 100 billion AntEx tokens and raise capital, with Shark Binh acting as a strategic advisor and announcing the investment of 2.5 million USD through the Next100 Blockchain fund. AntEx was introduced as a comprehensive DeFi ecosystem, building a stablecoin VNDT pegged to VND. From August to November 2021, the project team issued and sold about 33.2 billion AntEx tokens to about 30,000 investors, earning 4.5 million USDT, equivalent to about 117 billion VND. However, the promised parts such as "VNDT digital currency" and VNDT wallet were not completed in practice. After the boom period at the end of 2021, AntEx gradually lost momentum, the token plummeted, and its activities were lackluster from 2022 to 2024. Shark Binh himself also remained silent in the face of the crypto community's doubts about wallet management and "dumping" of tokens.

Public Denunciation and Intervention of Authorities

The incident exploded again in September 2025 after Shark Binh attended an economic conference and shared his "painful" experience of 99% of coin projects failing, investors losing money while project leaders "legally profit from the money". This statement went viral, and Mr. Binh shared it again, directly mentioning AntEx. On September 26, Shark Binh livestreamed on the topic "Crypto Assets - Opportunities and Risks", continuing to defend the view that blockchain technology "has not created real value", causing fierce controversy. Immediately after that, an anonymous post claiming to be the CTO of AntEx refuted, accusing Mr. Binh himself of being behind the AntEx collapse and directing the token dump. Shark Binh quickly responded publicly, calling the accuser a "traitorous younger brother", accusing this person of "rug-pull", stealing tokens and disappearing. The two sides continued to argue fiercely, with the accuser releasing evidence of the blockchain wallet address.

In early October 2025, Shark Binh continued to operate on social networks, even running ads for his posts and livestreaming on October 6. On the same day, October 6, the authorities began to appear and work at the company's headquarters in Tam Trinh and Mr. Binh's private home, conducting inspections and confiscating data and equipment. Then, on October 8, Micro Technology Joint Stock Company (under NextTech) issued a document confirming that AntEx was a personal investment project, not owned by the enterprise. On October 10, the police agency issued a decision to prosecute the case and prosecute the accused.

Legal Analysis: Shark Binh Faces 20 Years in Prison or Life in Prison

According to Dr. Lawyer Dang Van Cuong, this is an especially serious criminal case, setting a record for seized assets (VND900 billion) related to virtual currency fraud. The handling of these assets follows the principle of physical evidence: misappropriated assets will be returned to the victims; assets causing damage to the state will be used for compensation; assets obtained through crime can be confiscated for public funds.

Regarding the penalty, for the crime of Fraudulent appropriation of property (particularly large amount of money), the defendant faces the highest penalty in Clause 4, Article 174 of the Penal Code: imprisonment from 12 to 20 years or life imprisonment. For the crime of Violating accounting regulations causing serious consequences (damage ≥ 1 billion VND), the highest penalty is 10 to 20 years in prison. In case of being convicted of multiple crimes, the court will combine the penalties. If the highest penalty is life imprisonment, the combined penalty will be life imprisonment; if it is a fixed-term imprisonment, the total combined penalty will not exceed 30 years. In addition, the investigation agency can expand the consideration of other crimes such as tax evasion and money laundering.

Phuong Oanh attracts "attention" with new moves on social networks amid Shark Binh's controversy Thảo Vi07:34:14 15/10/2025Phuong Oanh attracted attention when she remained silent during the storm of Shark Binh's arrest. Netizens were shocked and closely followed every move of the actress, from her family to her personal career.