Justin Sun, CEO of Tron (TRX) slammed for aiding Chinese pyramid scam: Damage $ 30 million

Justin Sun, CEO of Tron (TRX) slammed for aiding Chinese pyramid scam: Damage $ 30 million

TRON Justin Sun Slammed For Chinese Ponzi Scheme

In January, the “Wave Field Super Community” project launched in China, which called itself one of the participants in the Justin Sun network. The entrepreneur did not refute this data, and thousands of local investors suffered.

Users from China lost about $ 30 million due to the financial ponzi scheme of “Wave Field Super Community”, which closed last week. Now, deceived investors accuse Tron of complicity, as Justin Sun’s company was promoted within the “Wave Field Super Community”, and they did not report that Tron was not related to the scam project.

Now victims of the Ponzi scheme in China, which has deceived hundreds of thousands of people in the country, are demanding satisfaction from Tron’s CEO Justin Sun.

TRON is known in China under the name “Wave Field”. A scam project with a similar name “Wave Field Super Community” played on associations with a popular platform to attract thousands of investors.

Last week, the project abruptly curtailed its activities.

The fraud cost victims at least 200 million yuan ($ 30 million) and resulted in at least one suicide.

Furious investors believe that with his silence, Sun is responsible for the actions of the scammers, since he needed to make a statement that TRON and BitTorrent had nothing to do with the scam.

Launched in January of this year, “Wave Field Super Community” declared itself the so-called super representative of TRON, one of 27 nodes that have a special status on the platform. The victims of the scam claim that since the launch of the ponzi scheme Justin Sun was asked to clarify the relationship between the companies. According to the victims, they tried to find out the connection of these projects from Tron and BitTorrent since the opening of the pyramid in January 2019, but received no answer.

Hecaijin.com writes that Sun only commented on this subject six months later, on July 1, the day after the scam site was closed.

He posted a warning on the Weibo social network, which states that investors should be attentive to similar Ponzi schemes using the TRON name. It is weird that in this case he did not mention the name of the scam, about which he was asked at the beginning of the year.


About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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