On August 1, in Hanoi , within the framework of the GM Vietnam 2025 event - the largest blockchain technology week in Southeast Asia, the National Cyber Security Association (NCA) in collaboration with Verichains Company organized the GM Blockchain Security Forum 2025 with the theme "Resilience & Trust in the Digital Future".
The event is part of a series of activities towards Vietnam Cyber Security Day (August 6, 2025).
Cyberattacks on the rise – blockchain security is imperative
According to Chainalysis, from 2020 to February 2025 alone, the world has recorded 657 attacks on blockchain systems, causing losses of up to 12.8 billion USD. The first 6 months of 2025 alone witnessed losses of 2.17 billion USD, surpassing the whole of 2024.
The Bybit attack ($1.5 billion) became the largest hack in blockchain history, while individual wallet attacks accounted for 23.35% of the total damage - an alarming figure for both users and businesses.
A prominent attack involving platforms originating from Vietnam such as Sky Mavis (Ronin) in 2022 causing a loss of more than 600 million USD or KyberSwap in 2023 with an estimated loss of about 50 million USD is a clear warning about the urgency of ensuring security for domestic blockchain platforms.
In particular, in the context that Vietnam is gradually perfecting the legal framework for digital assets and piloting digital asset trading floor models using blockchain technology, having the right orientation and ensuring security from the very beginning will play a key role in building a transparent and sustainable blockchain ecosystem.
Mr. Nguyen Le Thanh - CTO Verichains shared: "Blockchain security is no longer an option, but a prerequisite for building digital trust".
Speaking at the opening of the forum, Lieutenant General Nguyen Minh Chinh, Permanent Vice President of the National Cyber Security Association, said that global practice has proven the devastating level of attacks on blockchain systems, smart contracts, e-wallets and trading floors, causing billions of dollars in damage; in which Vietnamese users and businesses have been seriously affected many times.
"Money laundering, token issuance fraud, taking advantage of decentralization to avoid supervision, and the proliferation of projects disguised as multi-level marketing models are threatening social trust, economic security , and national cybersecurity," said Lieutenant General Nguyen Minh Chinh.
Creating a secure future for blockchain in Vietnam
Lieutenant General Nguyen Minh Chinh said that this is a pivotal period when Vietnam is promoting asset digitization, building a digital economy and affirming national digital sovereignty.
Blockchain, as the core infrastructure of the digital era, has been included in the National Digital Technology Development Strategy to 2030 as a key pillar, and the Digital Technology Industry Law, expected to take effect from January 1, 2026, will create a transparent and safe legal corridor for the digital asset market.
Blockchain development in Vietnam must be based on three solid pillars: safety, transparency and legal compliance.
Lieutenant General Nguyen Minh Chinh, Permanent Vice President of the National Cyber Security Association
Lieutenant General Nguyen Minh Chinh emphasized that blockchain development in Vietnam must be based on three solid pillars: safety, transparency and compliance with the law.
The forum is organized to directly serve the three core objectives of Vietnam Cyber Security Day:
One is to raise awareness of security risks in the fields of blockchain - digital assets - digital identities and Web3 platforms.
Second, promote multilateral cooperation between management agencies, functional forces, technology enterprises and the expert community.
Third, it also honors the role of the cybersecurity force and the technology community in protecting data, core infrastructure and digital sovereignty of the Fatherland.
To realize these goals, Mr. Nguyen Minh Chinh proposed: "We need to thoroughly understand the "Security by Design" mindset, which means integrating security right from the blockchain architecture, smart contracts, wallets and electronic identification. We must proactively build early detection and rapid response capacity, form an inter-sectoral emergency warning and response mechanism with transparent processing procedures, towards proactive defense."
At the same time, all development, trading and investment activities must be associated with legal compliance, approaching international standards on anti-money laundering, personal data protection and control of technology capital flows.
According to Mr. Nguyen Minh Chinh, successfully building a safe and sustainable blockchain ecosystem is the common responsibility of the whole society. Management agencies must soon perfect institutions associated with practical technology development.
Technology businesses and organizations need to put security first in every stage of design and operation.
Research institutes, startups and technology experts must take the lead in warning about risks and criticizing policies; and above all, there must be a mechanism for close and effective coordination between cybersecurity forces and the technology community, turning cybersecurity into a launching pad rather than a barrier to innovation.
Secure blockchain ecosystem to strengthen trust in technology
As digital assets and the blockchain ecosystem continue to expand, cybersecurity threats are also on the rise, requiring a proactive and sustainable approach to protect system integrity and foster trust in the technology.
The GM Blockchain Security Forum 2025 is designed to create a networking space where regulators, cybersecurity and blockchain experts can come together to discuss and share lessons learned from high-profile attacks.
Thereby, the workshop contributes to raising awareness of security risks, proposing effective technological solutions and especially shaping a suitable legal framework to protect users as well as promote innovation in the blockchain field.
Mr. Vu Ngoc Son, Head of Research, Consulting, Technology Development and International Cooperation Department, National Cyber Security Association, emphasized: “The digital economy is increasingly dependent on blockchain to store and trade assets. Ensuring the security of blockchain is also ensuring the safety of national digital assets. We need a comprehensive strategy, combining technology, law and public awareness”.
GM Blockchain Security Forum is an in-depth security conference revolving around key topics: Blockchain technology and practical applications; Artificial Intelligence (AI) and big data; Digital assets and legal management framework; Web3 ecosystem and digital infrastructure security; Digital transformation in accounts and government.
The workshop not only focused on technological aspects, but also clarified fundamental issues such as legal framework, national data protection, inter-sectoral roles and responsibilities of regulatory agencies in preventing high-tech crimes.
The contents shared at the event practically contribute to shaping a blockchain ecosystem that is transparent, secure and in line with the orientation of sustainable development. These are also important factors, closely linked to the national strategy on data and digital transformation.
Source: https://nhandan.vn/blockchain-security-is-a-crucial-condition-to-build-digital-trust-post897987.html
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