Mr. Nguyễn Duy Hưng Questions Investor Protection After Binance's $6.3 Billion Incident

The security incident at Binance reveals potential damages of up to $6.3 billion due to a system breach. On October 30, Binance announced that a DevOps engineer's computer may have been compromised, leading to unauthorized withdrawal orders by malicious actors. Approximately $3 billion in assets have been frozen on-chain, and the exchange will use its SAFU fund to compensate users for their losses. Mr. Nguyễn Duy Hưng, Chairman of SSI Digital, raised concerns about the ability of Vietnamese exchanges to cover damages, emphasizing that organizations need to have sufficient financial capacity to handle such incidents. He previously suggested that a minimum capital of 10 trillion VND is necessary to protect investors. Resolution 05/2025/NQ-CP requires organizations wishing to operate in the cryptocurrency market to have a minimum charter capital of 10 trillion VND. However, this does not guarantee sufficient capacity to cover significant damages from attacks.

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