Identifying risks and career traps in the blockchain industry

The rapid development of blockchain technology is expanding job opportunities, but the lack of standardization and the novelty of the sector also introduce risks for young workers. Industry representatives say the line between genuine opportunity and “career traps” can depend on choosing the wrong company, the wrong business model, or the wrong timing.

Program highlights blockchain career development for students

Recently, the Vietnam Blockchain and Digital Assets Association (VBA), in collaboration with the ABAII Institute of Blockchain Technology and Artificial Intelligence, organized the ABAII Unitour 41 program for more than 100 students at the International School – Vietnam National University, Hanoi (VNU-IS). The event focused on an overview of blockchain, crypto assets, and career development opportunities.

Fraud and illicit activity risks raise concerns for new entrants

Mr. Nguyen The Bao, Strategy Expert at 1Matrix, said the digital assets market faces numerous risks from sophisticated fraud. He cited fraudulent schemes including rug pulls, fake tokens, scam airdrops, Ponzi schemes, phishing attacks, and pig-butchering scams, warning that these not only harm users but can also create dangerous traps for those pursuing careers in the field.

Globally, illicit transactions rose 162%, increasing from $57.2 billion in 2024 to more than $154 billion in 2025, according to the Chainalysis 2026 Crime Report.

In Vietnam, data from the Cyber Security and High-Tech Crime Prevention Department (A05) under the Ministry of Public Security shows that from 15 December 2019 to 14 May 2024 (about 4.5 years), nearly 20,000 fraud cases were detected, involving over 17,000 individuals, with losses exceeding VND 12 trillion.

In the first 11 months of 2025, losses from online fraud already equaled 50% of the total losses from the previous 4.5 years, estimated at more than VND 6 trillion.

Companies tighten standards as blockchain moves into real-world use

Rising market risks are also pushing companies to raise operating standards, governance, and compliance when applying blockchain to real-world use. As a result, demand for talent in the sector is increasingly urgent.

Skills needed go beyond technology names

For students, speakers said the key questions extend beyond which roles the market needs and what skill standards are required. They also include how to prepare for evolving employer expectations and how to recognize career traps in a volatile market.

During the discussion session “Choosing the right and successful career in the blockchain field,” Mr. Piyush Shah, Business Development Director of BIGOD, argued that blockchain is expanding into practical financial problems, particularly through tokenization of real assets (RWA). He said that as the technology enters models involving collateral assets and operational realities, companies will seek not only technically oriented staff, but also people who understand the product, cash flow, customers, and how a financial model is brought to market.

Mr. Shah added that the risk for young people is not only skill gaps, but also misjudging the working environment. In a fast-developing field, he said real opportunities and opaque models can coexist and may appear similar at first glance. He advised students to look beyond technology names, growth rates, and future promises—focusing instead on what the company is actually doing, whether the product is real, how clear the model is, and how transparent the team is.

Practical capability is a key gap between training and hiring needs

Meanwhile, Mr. Nguyen Tuan Minh, Software Engineer at 1Matrix, said the biggest gap between training and real-world demands lies in practicality. He noted that companies increasingly look for candidates who can work practically with blockchain layer-1, smart contracts, DeFi, or Web3 infrastructure, not only those who understand fundamental concepts.

Speakers emphasize approaching the sector correctly

At the end of the session, the speakers emphasized that students do not necessarily need to join the blockchain industry quickly. What matters, they said, is approaching the sector correctly—because moving too fast may capture short-term opportunities, while starting with the right foundation can support long-term career development.