ChainTracer helps police trace AntEx case

ChainTracer, the blockchain transaction tracing project developed by the Vietnam Blockchain and Digital Asset Association, has once again coordinated with authorities in the process of tracing and verifying data related to the AntEx project, affirming that blockchain meets tracing requirements well at any time.

Mr. Tran Huyen Dinh, Project Manager of ChainTracer. (Photo: HNV)

Most recently, on the afternoon of October 14, according to information from Hanoi City Police, the unit prosecuted the AntEx case and defendant Nguyen Hoa Binh (Shark Binh) with 9 accomplices.

Regarding the above case, ChainTracer has made many contributions and supported the authorities in the tracing process. Sharing with Nhan Dan Newspaper, Mr. Tran Huyen Dinh, Head of ChainTracer project, Head of VBA Fintech Application Committee, said that ChainTracer's team of experts has analyzed, traced and modeled the entire cash flow on the blockchain, helping the authorities identify the token movement flows between wallets, exchanges, and related addresses.

“By applying the latest on-chain analysis technology, ChainTracer has identified suspicious wallet clusters, traced money flows, and supported technical contacts with domestic and foreign exchanges to provide data for KYC/KYB information comparison to clarify the identity and role of related individuals,” said Mr. Tran Huyen Dinh.

According to the ChainTracer project manager, the process of tracing transactions related to the AntEx virtual currency project has some significant advantages thanks to the characteristics of blockchain technology. All transactions are stored publicly, transparently and cannot be edited or deleted, helping to analyze and trace the cash flow accurately and quickly even though the incident has been going on for more than 3 years, unlike the traditional fraud model where individuals can erase evidence or service providers no longer store information.

“However, the biggest difficulty is the lack of cooperation from some international exchanges, even though the Vietnamese police have officially requested cooperation. Some exchanges such as Gate and MEXC have not responded or provided information in a timely manner, causing difficulties in identifying and tracing the final beneficiaries,” Mr. Dinh revealed.

From the recent consecutive fraud cases in the field of crypto assets, Mr. Tran Huyen Dinh recommends that investors need to continuously update their knowledge, be cautious with projects that promise high interest rates or lack clear information, and only participate when they clearly understand the operating mechanism or have verification from reputable units.

“Forms of fraud in the crypto asset market are increasingly sophisticated, with many projects disguised as investments, profit funds or attractive DeFi platforms. I believe that the Law on Digital Technology Industry and Resolution No. 05/2025/NQ-CP will help the market be managed more closely and transparently, contributing to protecting investors and minimizing fraud risks. In case of property appropriation, investors should promptly report to the police for timely support,” Mr. Dinh emphasized.

To date, ChainTracer has received and assisted in tracing 65 cases with total estimated losses of up to 10 million USD. Most recently, ChainTracer has coordinated with authorities to successfully dismantle the virtual currency investment fraud ring “WorldMall.app” (WM coin), which appropriated tens of billions of VND from thousands of Vietnamese investors.

HA ANH

Source: https://nhandan.vn/chaintracer-ho-tro-cong-an-truy-vet-vu-an-antex-post915503.html