The Vietnam Blockchain Association (VBA) and the United Nations Office on Drugs and Crime (UNODC Vietnam) today co-hosted a training program at Ho Chi Minh City University of Law. The event, titled ‘Raising Awareness of Cyber Security and Preventing Online Fraud in the Context of Digital Transformation’ aimed to equip students with essential skills to combat high-tech crimes and cyber threats.
Many students, owing to their inexperience and lack of awareness, have become vulnerable targets for sophisticated criminals. Their naivety has led numerous individuals to fall victim to deceitful schemes. Consequently, it is imperative for students to learn fundamental strategies and techniques to recognize and respond to such criminal activities.
The Vietnam Blockchain Association reported a surge in crypto-asset fraud cases in 2023, with over 69,000 complaints and losses reaching a staggering $5.6 billion. This marks a 45% increase compared to the previous year. The "Pig Butchering" scam, which involves building trust with victims through social media or dating apps before enticing them into fake investment platforms, accounted for the majority of losses at $3.96 billion. Deepfake technology has played a significant role in these scams, enabling criminals to convincingly impersonate individuals and deceive unsuspecting victims.
Representative from the Vietnam Blockchain Association Tran Huyen Dinh disclosed that in May 2023, the Vietnam Blockchain Association developed the ChainTracer solution to detect, trace and analyze suspicious crypto-asset transactions. Since its launch, ChainTracer has helped recover more than US$2 million from scams in Vietnam. ChainTracer not only helps detect fraudulent behavior early but also enhances transparency in transactions, contributing to protecting users and building a safer Blockchain ecosystem.
Nguyen Thi Nhu Trang, a representative from the United Nations Office on Drugs and Crime (UNODC Vietnam), stated that scammers employ sophisticated tactics and various psychological strategies to build trust and manipulate individuals according to their schemes.
The Department of Information Security (Ministry of Information and Communications) has identified 24 prevalent types of online fraud, including online lottery scams, impersonation of tax officials and police officers, investments in digital assets, and deepfake technology that creates videos mimicking faces and voices. In addition to implementing technical solutions, enhancing public awareness and equipping individuals, particularly students, with fundamental skills is regarded as a primary approach to combat online fraud.
Within the framework of the program, the Blockchain and Artificial Intelligence Technology Institute (ABAII) has awarded 30 MasterTeck scholarships to students at Ho Chi Minh City Law University, including over 300 in-depth courses on Blockchain and AI, aiming to enhance students' skills and open up numerous career opportunities in the digital age.
The training program is part of the ABAII Unitour series, a collaborative effort by the Blockchain and Artificial Intelligence Technology Institute (ABAII) and the Vietnam Blockchain Association (VBA) since March 2024. This is one of the social projects aimed at popularizing Blockchain and AI, enhancing the capabilities of the young workforce, optimizing business processes, and developing a sustainable and healthy technology market. Some notable ongoing projects include the Blockchain and AI online learning platform (MasterTeck); free legal assistant (AI legal search); tracking projects with signs of fraud (ChainTracer); in-depth workshops on Fintech, and tokenized real assets (RWA).
