NCA affirms its role in creating a secure blockchain ecosystem
Blockchain ecosystem is one of the contents of digital transformation to form an important infrastructure for many economic sectors to develop. However, this ecosystem is facing many challenges in cybersecurity to create trust for participants. Therefore, ensuring the safety of blockchain systems, which are considered the core technology for storing and trading digital assets, is very important to protect the integrity of the system and strengthen trust in new technology.
Therefore, GM Blockchain Security Forum 2025 took place from August 1-2 within the framework of GM Vietnam 2025 - the largest Blockchain technology week in Southeast Asia, held at the National Convention Center, Hanoi . With the theme "Resilience & Trust in the Digital Future", the conference was organized by the National Cyber Security Association (NCA) in collaboration with Verichains Company, attracting special attention from experts, managers and businesses in the field of blockchain and cybersecurity.
Lieutenant General Nguyen Minh Chinh, Permanent Vice President of the National Cyber Security Association, said that by 2030, Blockchain is one of the contents of digital transformation to form an important infrastructure for many economic sectors such as finance and banking, logistics, supply chain, digital asset registration, healthcare, education and state administration... At that time, Blockchain will be widely applied in this era. However, besides creating motivation for economic development and investment, this field also has many risks and challenges.
Lieutenant General Nguyen Minh Chinh pointed out that attacks on smart contracts, e-wallets, and blockchain bridges have caused billions of dollars in damage globally. Among them, there are platforms and users from Vietnam that are not protected by Vietnamese law.
In addition, criminal organizations take advantage of decentralization and anonymity to launder money, illegally raise capital, and issue fraudulent tokens. Many projects disguise themselves as technology but are actually multi-level marketing models, attracting users with little technical knowledge, causing serious financial damage and social trust.
Therefore, cybersecurity is an inseparable part of national digital security in the digital age. To develop Vietnam's Blockchain ecosystem in a safe, healthy and sustainable manner, Lieutenant General Nguyen Minh Chinh emphasized that it is necessary to focus on 3 strategies.
First, design a secure ecosystem from the ground up. Every layer of technology from blockchain infrastructure, smart contracts, custodial wallets, and identity systems needs to have security, encryption, and monitoring standards built into the security design, and should be a default component, not a stopgap solution.
Second, to improve early detection and rapid response capabilities, it is necessary to establish a warning mechanism and share information on cross-sectoral response between parties. Each platform has a clear crisis handling process from detection, transparent handling, and recovery on that platform, gradually forming proactive defense capabilities for the entire digital asset ecosystem.
Third, ensuring compliance with laws and international standards, development must be associated with regulations on anti-money laundering, personal data protection, capital flow control, while actively participating in the process of standardizing technology and perfecting the legal framework, creating a foundation for transparent and sustainable development.
"The synchronous implementation of the three pillars will help Vietnam both control risks well and effectively take advantage of breakthrough development opportunities that Blockchain and digital assets bring in the coming era and the next decade. Blockchain is a breakthrough technology, but if it is not accompanied by risk control, legal compliance and ensuring safety for users, that breakthrough will become a loophole for high-tech crimes, destabilizing the market and eroding social trust," Lieutenant General Nguyen Minh Chinh emphasized.
According to many experts, this workshop not only focuses on technological aspects, but also clarifies fundamental issues such as legal corridors, national data protection, interdisciplinary roles and responsibilities of management agencies in preventing high-tech crimes.
Thereby, the workshop contributes to raising awareness of security risks, proposing effective technological solutions and especially shaping a suitable legal framework to protect users as well as promote innovation in the blockchain field.
Mr. Vu Ngoc Son, Head of Research, Consulting, Technology Development and International Cooperation Department, NCA, emphasized: “The digital economy is increasingly dependent on blockchain to store and trade assets. Ensuring the security of blockchain is also ensuring the safety of national digital assets. We need a comprehensive strategy, combining technology, law and public awareness."
The urgent need for blockchain security
According to Chainalysis, from 2020 to February 2025 alone, the world has recorded 657 attacks on blockchain systems, causing damage of up to 12.8 billion USD. The first 6 months of 2025 alone witnessed a loss of 2.17 billion USD, surpassing the whole year of 2024. The Bybit attack ($1.5 billion) became the largest hack in blockchain history, while attacks on personal wallets accounted for 23.35% of the total damage, an alarming number for both users and businesses.
A prominent attack involving platforms originating from Vietnam such as Sky Mavis (Ronin) in 2022 causing a loss of more than 600 million USD or KyberSwap in 2023 with an estimated loss of up to 50 million USD is a clear warning about the urgency of ensuring security for domestic blockchain platforms. Especially in the context that Vietnam is gradually perfecting the legal corridor for digital assets and piloting digital asset trading floor models applying blockchain technology.
Having the right direction and ensuring security from the very beginning will play a key role in building a transparent and sustainable blockchain ecosystem.
“Blockchain security is no longer an option, but a prerequisite for building digital trust. We expect the event to be the start of many practical cooperation initiatives, helping Vietnam become more proactive in the global blockchain security front,” said Nguyen Le Thanh, CTO of Verichains.
At the event, experts focused on clarifying the following issues: Trends and risks of cyber security attacks in the Blockchain ecosystem; Lessons from hundreds of millions of dollars hacks globally; Anti-money laundering techniques, AML/CFT high-tech crimes in the digital currency world; Risks from multi-signature wallets (MPC Wallets), ZKP security; National data protection, legal framework for blockchain; The role of security organizations & state agencies in preventing and combating cybercrime.
In the context of Vietnam piloting a digital asset exchange and gradually perfecting the legal framework for blockchain, the contents shared at the event contribute practically to shaping a transparent, safe and sustainable development-oriented blockchain ecosystem. These are also important factors, closely linked to the national strategy on data and digital transformation.
Source: https://doanhnghiepvn.vn/cong-nghe/viet-nam-kien-tao-he-sinh-thai-blockchain-an-toan-minh-bach/20250802063505631
Comment (0)