TechFlow news, October 16 — According to Techinasia, Hanoi police have seized $34 million worth of assets belonging to Nguyen Hoa Binh, chairman of Vietnamese tech company NextTech, in connection with a cryptocurrency fraud case. The seized items include 597 gold bars, property certificates for 18 real estate properties, and two vehicles.
Binh and nine others are facing charges related to misappropriation of funds and accounting violations tied to the AntEx cryptocurrency project. Police allege that Binh and his associates raised funds for AntEx in 2021 by selling 33.2 billion tokens to 30,000 investors, collecting the equivalent of $4.5 million.
Authorities stated the funds were subsequently withdrawn, converted into local currency, and distributed among the group, with some transferred to companies linked to NextTech. Binh is also accused of instructing employees to conceal revenue from Nextland, a real estate company, by maintaining two sets of accounting records. The investigation is ongoing, and police say further charges may follow.
