VNExpress-Aug 9
Nguyen Le Thanh, founder of Vietnamese cybersecurity firm Verichains, offers insights into the work of blockchain investigators who trace hacks to steal millions of dollars from crypto exchanges. In February this year hackers targeted Dubai-based exchange Bybit, stealing digital assets worth an estimated $1.5 billion. Verichains quickly dispatched engineers to Dubai to assist in the investigation. Within a day the cause was identified. Thanh’s team produced a 28-page technical report, the first detailed explanation of the breach. It became a key reference for affected parties and users, helping reduce the spread of misinformation that could destabilize the crypto market. “They are probably the most knowledgeable people in the world when it comes to cyberattacks,” Ben Zhou, CEO of Bybit told VnExpress then.
Bybit case is one of many major blockchain-related attacks Verichains has helped investigate. These incidents often resemble digital crime scenes, with engineers working backward to uncover what happened, much like detectives. Verichains has been involved in investigating many of the world’s most high-profile crypto breaches. These include the 2022 theft of $600 million from BNB Chain Bridge, a platform used to transfer digital assets between blockchains, and the hack targeting Ronin Bridge, a cross-chain platform, which crippled Sky Mavis, the Vietnamese tech unicorn behind the blockchain game “Axie Infinity.” The firm is among the few globally to provide deep-level blockchain forensics. “Our job is to investigate the root cause, identify vulnerabilities exploited by attackers, resolve the incident, collaborate with authorities across multiple countries, and support the affected organization in securing their systems,” Thanh says. Despite its reputation for security, blockchain remains a prime target for hackers. In 2024 alone cybercriminals stole $2.2 billion in crypto assets. In the first half of 2025 alone that figure reached $2 billion, driven largely by the Bybit breach. Read more at:
