Tragedies have befallen TRON Foundation as their office in Beijing was raided by the police, with an angry crowd protesting against a Chinese Ponzi scheme in a TRON-like name, according to a report.
The local investors believed the cryptocurrency fraudulent scheme, “Wave Field Super Community,” launched in January 2019, was related to TRON, since it is reportedly known as “Wave Field” in China.
Chinese news agency, Hecaijing, reported that “Wave Field Super Community” claimed to be a “super representative” of TRON. Hence, the investors angrily protested to the office, citing that “TRON is a scam.”
According to the report, the Wave Field Super Community platform shuttered its service last week without any prior notice. The development allegedly led to a whopping loss of about $30 million, including a suicide committed by a victim.
Until now, TRON’s CEO Justin Sun is yet to provide an official comment regarding the issue which had dragged the blockchain firm to the mud, even after investors and enthusiasts asked for clarification when the fraudulent platform was launched. Based on this, the victims trooped to Tron’s office to express resentment about the company’s silence.
Meanwhile, the news is coming at a time when the CEO had warned against fraudulent schemes bearing the firm’s name, such as 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,” Sun wrote on July 5. “We will never ask you to send money.”
The police, according to Mati Greenspan, Senior Market Analyst at eToro, came to protect the TRON team from angry investors.
Coinfomania reported recent development with Tron Foundation to offer a $20 Million TRX Buy-back Plan. According to the data by CoinMarketCap, TRX is seeing a 2.07% gain on the day, trading at $0.034 at the time of writing.