The Truth About the Cryptocurrency Boom in Vietnam: Trillions in Profits, but Risks
The cryptocurrency market in Vietnam is booming, providing enormous profits for investors, but at the same time, it harbors many traps from legal loopholes and the risk of fraud.
Cryptocurrency Traps: The Dark Side of High Profits
Despite their resounding success, Vietnamese investors are among the most easily deceived in the cryptocurrency market.
One typical example is the scam ring of Mr. Pip, which embezzled over 200 million USD, alongside many cases that have not been thoroughly addressed.
Vietnam: A Beacon in the Era of Tokenization
The world is entering the "era of asset tokenization," where traditional values are transformed into digital assets.
By 2030, the value of tokenized assets globally could reach 16 trillion USD, equivalent to 10% of the world's GDP.
In Vietnam, with a vibrant investment community, this trend has recorded impressive numbers:
17 million cryptocurrency investors, ranking 7th globally (in 2024). Blockchain capital flowing into Vietnam reached over 105 billion USD. Profits from cryptocurrency in 2023 reached 1.2 billion USD, ranking 3rd in the world, only behind the US and the UK.
Among them, the price of Bitcoin, the symbol of the industry, reached a record high of 108,000 USD by the end of 2024.
Warnings and Hopes for the Future
2025 is forecasted to be a booming year for the digital currency market, with support from major governments and enterprises worldwide. However, the fact that institutions hold over 30% of the global Bitcoin supply also raises concerns about market manipulation.
