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A Tron-like Ponzi Scheme Stole Millions from Investors, Angry Crowd Protested at Tron Beijing Office

By Brian Nguyen | July 9, 2019
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A Tron-like Ponzi Scheme Stole Millions from Investors, Angry Crowd Protested at Tron Beijing Office

After a Chinese ponzi scheme used a Tron-like name to attack Chinese crypto users, victims have gathered and protested at the Tron office in Beijing.

As seen on Twitter via a viral video, police officers have surrounded the crowd, who expressed anger for losing nearly $30 million and one suicide because of a local crypto scam. During the protest, people yelled “Tron is a scam”.

Responding to the issue, Tron CEO Justin Sun said “Tronfoundation and BitTorrent is fine. Everything is fine. We are preparing for BitTorrentSpeed launch today. Stop spreading fake news and pictures.”

Moreover, Sun also gave out a warning for investors about scam sites using names of Tron and Tron-owned BitTorrent

“As a leading blockchain protocol, there are Ponzi schemes using TRON, BitTorrent or uTorrent names like “MMM bitcoin, Ethereum pyramid & EOS ecosystem schemes,” wrote Sun on July 5. “We will never ask you to send money.”

The response of Sun came after reports on the alleged crypto scam scheme known as “Wave Field Super Community,” which was launched in January 2019. While the scheme claimed to have a strong connection with Tron, Sun has not commented on the issue since January this year. 

A tweet from Mati Greenspan, Senior Market Analyst at social trading marketplace eToro, stated that police in Tron’s office came to protect the office itself:

“A lot of misinformation floating around, so to clarify. The Tron office wasn’t raided by the cops. Tron was the one who called the police to protect them from investors who are upset that Tron scammed them.”

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