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Everything is Fine, Says Justin Sun as Fake News Hit Tron

Sead Fadilpašić
Last updated: | 1 min read
Justin Sun. Source: Twitter, @justinsuntron

It seems that the founder of the Tron blockchain project, Justin Sun, can’t get out of the boiling-hot waters.


Just the other day, reported that Sun is being heavily criticized in his home country of China due to a local scam story that allegedly involved a suicide. Today, a fake news story hit the price of TRX, the native token of Tron, while Justin Sun still claims that “everything is fine.”

First, fake news have started to circulate claiming that police have raided the Beijing Tron offices, which sent TRX price down by 5% before it recovered somewhat.

TRX price chart:

Later, Tron issued a statement explaining that “early on July 8, 2019, Beijing time, a number of people attempted to enter the office of Beijing research and development center of Raybo technology, a partner of Tron in mainland China.”

“After communicating with the protesters, employees at Raybo learned that at least some of the people were deceived by the so-called “Wave Field Super Community” scheme that traded on its similarity to the Chinese-language version of Tron’s name to defraud investors. The victims had been promised high rates of return on their investments in the name of Tron, BitTorrent and uTorrent,” the company said.

Tron claims that they warned investors on its WeChat messaging group, Wei Bo official channels  about the scam back in January.

“After first hearing of Wave Field Super Community, officers of Raybo technology, a partner of Tron in mainland China, communicated with that company, seeking a cease and desist from acting in Tron’s name. The company also reported the company to the public security organs,” according to Tron.


Meanwhile, cryptoverse is reacting both to the news, criticizing Tron, calling it a scam, and others criticizing those who are spreading fake news. Others are reminding that Twitter accounts are not to be trusted with the accuracy of the news.


Meanwhile, Justin Sun says everything is fine: