Which cryptocurrency project did Shark Bình get scammed into?

Mr. Nguyen Hoa Binh said he was deceived by the developer when the coin's value dropped dozens of times. However, this businessman himself promoted and sponsored the project from the very beginning.

Shark Bình said he was also a victim of AntEX.

In a recent event, Mr. Nguyen Hoa Binh (Shark Binh) gave a speech about cryptocurrency and blockchain projects. This video was later shared by the businessman on Facebook. His comments on crowdfunding projects in particular sparked strong reactions.

"They issue coins, raise $3-5 million , and then things start to go wrong. Many startups give up. 99% of coin projects fail, investors lose money, while project leaders legally pocket the profits," Mr. Binh said.

The aforementioned statement was shared across many cryptocurrency investment communities, eliciting ridicule and outrage. This stemmed from the fact that Shark Binh himself had previously sponsored the AntEX project, soliciting domestic investment. Subsequently, the token crashed sharply, causing many to lose money. For a long period, Mr. Binh remained silent.

Shark Bình only speaks out after the project collapsed 4 years ago.

After receiving a wave of negative reactions to his statement, Mr. Binh posted further explanation on Facebook. “I previously invested in the AntEX digital asset issuance project. However, the technical team engaged in misconduct and then disappeared, causing investors and supporters like me to suffer reputational damage.”

Therefore, I feel a responsibility to share my experiences so that the community can be vigilant and avoid failure, financial loss, and reputational damage like I once did,” Mr. Binh wrote.

This businessman's warning post appeared four years after the project "collapsed." For a long time, the businessman was constantly mentioned in connection with the failure of AntEX. However, he did not react. After a long time, and the coin changed its name, Shark Binh finally explained that he was also a victim of the development team.

At its core, AntEX is the VNDT stablecoin, "provided" by nganluong.vn.

The statement raised doubts among the investment community, given that Mr. Binh worked directly with the developer. When the project went public in 2021, the price plummeted, drawing negative reactions from the community, and the businessman spoke out in its defense.

In Vietnam, AntEX is primarily known for being invested in by Mr. Binh's NextTech fund. It has close ties to products within this ecosystem, including the VND-based stablecoin (VNDT), offered by nganluong.vn, a NextTech service.

The development team ("tech team," as Mr. Binh calls them) is not clearly introduced, only low-quality images are provided, along with their English names and LinkedIn social media links. The person directly involved in developing the product is Lee Le (Van Luong Le), introduced as the former Chief Technology Officer of NextTech Group, Mr. Nguyen Hoa Binh 's company.

The AntEX development team includes former Next Tech staff.

On the AntEX website (whose domain name has since been sold), Shark Bình, along with Mr. Đào Minh Phú and Mr. Nguyễn Hữu Tuất, all senior leaders of Next Tech, are introduced as Advisors. This title differs from how Mr. Bình referred to himself (Supporter) in his recent statements.

AntEX's chart redraw still resulted in a crash.

When searching for AntEX tokens or related information on the internet, there is no trace of the project. The official website and social media pages have disappeared. Mr. Nguyen Hoa Binh, one of the strategic investors of this start-up, also stopped sharing information about it since the end of 2021.

Price movement of RAB, which is no longer traded. Image: CoinMarketCap.

Currently, only exchange data remains, announcing the conversion of ANTEX tokens to the Rabbit project in March 2023. Accordingly, the conversion rate is 1,000 ANTEX for 1 RAB. This type of rebranding is referred to by cryptocurrency investors as "redrawing the chart." As a result, the history of token price fluctuations is erased, essentially starting anew.

Unlike other projects that have also been rebranded, the AntEX development team has completely erased all traces of its previous involvement. In Rabbit's introduction, there is no information suggesting any connection to the Vietnamese start-up. The development direction and roadmap have also been removed.

To date, the RAB token has completely disappeared. Community channels, roadmap updates, and transaction methods are no longer available.

Source: https://znews.vn/shark-binh-bi-lua-o-du-an-coin-nao-post1588062.html