The training workshop on “Legal framework and identification of crypto-asset fraud” was held on the occasion of the 100th anniversary of Vietnam Revolutionary Press Day (June 21, 1925 – June 21, 2025), aiming to share information, update policies and highlight the role of the press and media in contributing to creating a healthy and sustainable digital technology market.
The legalization of crypto assets is both an opportunity to promote the development of the digital technology market and a challenge to identify and warn of increasingly sophisticated fraud models. This reality also poses new requirements for the press and media to act as a bridge of information, early warning and building market trust.
Mr. Phan Duc Trung, Chairman of VBA, Chairman of the Board of Directors of 1Matrix emphasized: “The press and media not only convey technological knowledge but also act as a bridge between the community, experts, policy makers and state management agencies in the context of crypto assets increasingly having a profound impact on the national financial and technology market”.
According to Mr. Trung, along with the strong development of crypto assets and blockchain technology are new challenges in management, due to the rapid development of technology and the lack of a common global legal framework for new types of fraud.
According to the Internet Crime Complaint Center (IC3 - FBI) of the US Federal Bureau of Investigation, in 2024 alone, there were 150,000 fraud cases related to crypto assets with total losses of more than 9.3 billion USD, an increase of nearly 70% compared to the previous year. Of which, Vietnam is among the 6 countries with the highest volume of fraudulent transactions globally.
Mr. Tran Huyen Dinh, Head of the ChainTracer Fraud Tracking Program (VBA) said: “Many fraud models today are organized very professionally and sophisticatedly. It is very difficult for ordinary users to distinguish between real and fake without warnings from reputable independent organizations and information orientation from the press and media.”
According to Mr. Dinh, although the forms of fraud related to crypto assets are mentioned a lot, the specific methods of each case are constantly changing, making it difficult for people to update and equip themselves with knowledge to prevent them. Some tools, although they can help identify risks early, are not easy to use for most people, and even state management agencies face many difficulties in the handling process due to the delay in legal regulations.
Meanwhile, the press and media are a force with high flexibility, the ability to detect early, widely disseminate information, and promptly warn to minimize unfortunate fraud cases, especially at times when large-scale capital raising projects or blockchain applications of unknown origin appear.
This is also a force that conveys multi-dimensional information between people, management agencies, experts and policy makers, helping to raise social awareness and build correct trust in crypto assets.
In particular, the press and media also hold the responsibility of criticizing policies, perfecting institutions, and contributing to the transparent and sustainable development of the digital technology market in Vietnam.
Source: https://www.sggp.org.vn/vai-tro-cua-bao-chi-truyen-thong-trong-ky-nguyen-web3-post799720.html
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