Revealing the tool to help "trace" the money flow in Shark Binh's AntEX cryptocurrency scam

As reported by Nguoi Lao Dong Newspaper on the afternoon of October 14, Hanoi City Police held a press conference to inform about the unit's prosecution of the AntEX case and the defendant Nguyen Hoa Binh (Shark Binh) with 9 accomplices.

Accordingly, from August 2021 to November 2021, this group issued and sold 33.2 billion tokens to about 30,000 investors, earning 4.5 million USDT in e-wallets on the exchange, equivalent to 4.5 million USD, about 117 billion VND.

Notably, during the investigation of the case, the ChainTracer project - a platform for warning, tracing and intermediary to support the investigation of fraudulent, fraudulent or illegal acts on blockchain networks and digital assets, developed by the Vietnam Blockchain and Digital Assets Association (VBA) - actively contributed, coordinated and supported the authorities in tracing and verifying related data.

- Ảnh 1. — Shark Binh and the AntEX cryptocurrency project

Speaking with reporter B of Nguoi Lao Dong newspaper, Mr. Phan Duc Trung, Chairman of the Vietnam Blockchain and Digital Asset Association (VBA), confirmed that as a tool to support the community participating in digital assets, ChainTracer has contributed to supporting the tracing of the cash flow of the AntEX project in the case of Shark Binh and his accomplices.

Accordingly, the ChainTracer tool was used to coordinate with the authorities in the process of verifying data related to AntEX. From ChainTracer, experts applied the latest on-chain analysis technology to identify suspicious wallet clusters and support technical contact with many domestic and foreign exchanges to compare identification information.

ChainTracer, initiated by VBA, is not simply a tool or software, but a key program, an open action plan to be implemented from 2022. The core goal is to support victims in an incomplete legal environment, by providing in-depth technical information so that they understand the mechanism of being scammed.

- Ảnh 2. — Mr. Phan Duc Trung, Chairman of VBA

ChainTracer only supports, does not charge community fees, while in the international market, cryptocurrency tracing companies often charge very high fees, minimum from 50,000 USD, making it difficult for ordinary people to access when losing money.

ChainTracer only performs technical tracing, not legal intervention. “The success of the program requires close coordination with exchanges, which manage the original identity and transactions, and support for stakeholders such as lawyers to clarify disputes and mediate,” he said.

To date, ChainTracer has supported about 65 cases for victims, with a total amount of money settled and recovered about 10 million USD. Most recently, ChainTracer coordinated with the authorities to destroy the virtual currency fraud ring WorldMall.app, which had appropriated tens of billions of VND from thousands of investors. However, according to Mr. Trung's prediction, the recovered amount will be much higher because digital asset fraud cases often involve very large sums of money.

Mr. Trung added that Mr. Tran Huyen Dinh is currently the Director of the ChainTracer project. Previously, when the project was first established, this position was held by cybersecurity expert Ngo Minh Hieu (Hieu PC).

Mr. Trung shared that before ChainTracer, he realized that the Chongluadao.vn project initiated by Hieu PC brought many positive values to the community in preventing online fraud and protecting internet users. Therefore, when starting to deploy ChainTracer, Mr. Trung invited Hieu PC to join in developing the project in the early stages.

Source: https://nld.com.vn/he-lo-cong-cu-giup-truy-vet-dong-tien-trong-vu-lua-dao-tien-so-antex-cua-shark-binh-196251015101542541.htm