Vietnam’s ‘Shark Tank’ Star Arrested in Shocking AntEx Crypto Scandal

Nguyen Hoa Binh, famously known as Shark Binh from Shark Tank Vietnam, was arrested by the Hanoi police for his role in the collapsed AntEx cryptocurrency project. Once hailed as a visionary investor and a household name in Vietnam’s startup ecosystem, Binh now faces intense scrutiny and legal jeopardy following mounting investor complaints.

Authorities launched a multi-division investigation after multiple investors reported losses connected to AntEx, a project Binh had allegedly advised and invested in. On October 6, a local investor reported losing about $2,000 in AntEx, which prompted the broader investigation.

The city’s Criminal Investigation Department issued a temporary detention order, signaling a thorough probe into potential fraud and financial mismanagement.

Binh, chairman of NextTech Group — a conglomerate once described as “Vietnam’s Alibaba” — built a sprawling empire from modest beginnings in 2001. His businesses spanned e-commerce, fintech, logistics, and blockchain, and he became a household figure for his candid, often blunt critiques on Shark Tank Vietnam.

He was known for catchphrases like “Please, don’t be high on your own numbers” and “Without your ‘dragon vein,’ you’re grounded,” cementing his reputation as a fearless, no-nonsense investor.

From Startup Star to Financial Strain: Did AntEx Become Binh’s Gamble to Recover Lost Fortune?

However, the shine has faded. NextTech’s charter capital, once $20.4 million in 2020 with Binh holding a 70% stake, reportedly plunged to just $163,000 by late 2023. Several subsidiaries, including the payment platform Ngan Luong, experienced major financial declines.

Facing mounting pressure, Binh’s involvement with AntEx — pitched as a decentralized finance ecosystem offering token-based financial services — has raised eyebrows. The project collapsed rapidly, leaving investors questioning whether Binh’s participation was purely advisory or an attempt to recover lost capital.

Though Binh maintains that he was misled by the AntEx team, the investigation suggests he may have played a more direct role than he has publicly acknowledged.

With investor losses mounting and legal proceedings underway, his personal and professional reputation hangs in the balance. Authorities are urging anyone with information to come forward as they attempt to quantify the full scale of financial damages and identify those responsible.

This arrest has sent shockwaves through Vietnam’s technology and investment community. It is a stark reminder that even the most respected figures in the startup world are not immune to the volatility of the crypto market, mismanagement, or legal consequences.

From celebrated entrepreneur to the center of a multi-million-dollar investigation, Binh’s dramatic fall underscores the risks inherent in high-profile, celebrity-backed crypto ventures.

Meanwhile, the broader Vietnamese crypto landscape continues to evolve. Stablecoin issuer Tether is reportedly exploring partnerships with local companies to expand adoption, highlighting Vietnam as a promising market due to its youthful population, robust economy, and high remittance volumes.

Deputy Prime Minister Ho Duc Phoc emphasized the country’s ambition to create a well-regulated, professional investment environment.

Vietnam has launched a five-year pilot program for crypto trading, with plans to license major domestic platforms and ensure each maintains substantial capital reserves.

For Binh, however, the focus is no longer expansion or innovation — it is survival. The intersection of fame, finance, and unregulated crypto projects has left him facing both legal and financial peril.

Investors, regulators, and the public are now watching closely as a former star of Vietnam’s entrepreneurial scene confronts the full consequences of a collapsed crypto project, proving that in the world of high-stakes finance, even household names are not untouchable.