Yes, it does. Wine lets you register a VEH. They do other stuff to prevent Wine and virtual machines in general that I am not fully aware of.

Even then it's just a fancy party trick, you can suspend the process call the decryption function enumerating all the pages and take a full dump to get the binary

FYI; Theia is a very bad product. It absolutely tanks binary performance and does little to prevent a moderately competent engineer from cheating in your game.