TRON Dumps as CEO “Locked Down” in China Ahead of Warren Buffett Lunch

[Danumsigwasan]

After Tron’s founder, Justin Sun, canceled his much-anticipated charity lunch with the Wall Street giant, Warren Buffett, misfortunes have come knocking. A Chinese media outlet, 21st Century Business Herald, has reported that Sun was involved in an illegal fundraising scheme in China.

According to the media outlet, Sun conducted unregistered gambling services that were meant for the Chinese market. Additionally, the Tron founder was accused of promoting prohibited pornographic content through porn transaction facilitation, which is banned in China.

Sun is stationed in China

As per the report:

“THE REPORTERS OF THE 21ST CENTURY BUSINESS HERALD HAVE LEARNED FROM VARIOUS SOURCES THAT SUN IS STILL IN THE TERRITORY [CHINA]. ON THE CANCELLATION OF THE APPOINTMENT [LUNCH WITH BUFFETT], THERE ARE STILL SEVERAL QUESTIONS TO BE ANSWERED.”

The question on why Justin Sun canceled his lunch with Buffett still hovers in the cryptocurrency community after so much hype. However, as noted by Business Herald, Sun was unable to leave China after the damning accusations. Sun took to social media explaining that the lunch date cancellation was due to sudden health issue; kidney stones.

On his side, Sun said that the allegations are entirely fabricated since Tron operates from Singapore and not China. Unfortunately, in his response, Sun never mentioned his current physical location. In his Weibo account, Justin said:

“THE ILLEGAL FUNDRAISE ACCUSATION IS WRONG. TRON COMPILED WITH REGULATORS AND REFUNDED INVESTORS ON SEPTEMBER 20, 2017. [THIS WAS] IMMEDIATELY AFTER THE ORDER OF A BAN ON ICOS FROM SEVEN MINISTRIES IN CHINA. …THE TRON FOUNDATION IS BASED IN SINGAPORE IN COMPLIANCE WITH LOCAL REGULATIONS AND LAWS …AND DOES NOT INVOLVE ANY FLOW OF CAPITAL, OR ANY CRYPTO OR FIAT CURRENCY ONRAMP.”

Justin ‘allowed’ victims to be defrauded

In the recent past, Sun was accused by victims of a Chinese Ponzi scheme for being silent when they were defrauded in his name. For context, in the Chinese market, Tron is known as ‘Wave Field’, and the scammers used ‘Wave Field Super Community.’ It later abruptly closed shop with investors being scammed more than 30 million US dollars. Additionally, one of the victims committed suicide.

A Twitter user said:

“A GROUP WAS USING A DERIVATIVE OF TRON’S CHINESE NAME TO CONDUCT A PONZI TYPE OF SCAM, WHICH MANY TRON ENTHUSIASTS FELL FOR LOSING MILLIONS. ONE VICTIM COMMITTED SUICIDE. VICTIMS ARE BLAMING TRON & JUSTIN SUN FOR NOT CONFIRMING WHETHER THE GROUP WAS WORKING WITH TRON.”

To further smear Sun in the world of illegal activities, Sun warned Chinese investors they should be extra careful to avoid being lured by schemes using Tron’s name. However, he did not explicitly mention any such schemes. One day after the warning, Wave Field Super Community evaporated into thin air.

Source of the Article: https://www.reddit.com/r/CryptoCurrency/comments/cguvf4/tron_dumps_as_ceo_locked_down_in_china_ahead_of/

[Mehr Sher]

I seriously got no clue how it really is turning out. I was keen to see how Buffett reacts to do with his past statement about Cryptos. But all gone

[Candycrush1129]

Strange, I don’t buy into this at all!

Kidney Stones in this current age is no big deal….. Something else was the reason

[Andrew Parker]

WOW, this continues to go into snow balling.

[Patrix_1]

Yeah I heard about that news yesterday, but I cannot understand why the price has fallen so much. It in normal that China is fighting against crypto currencies, but to have such a drop in price is not understandable for me.

[Hung Yu So]

Why I am thinking that this is purely to get people’s attention?

First cancelling the lunch and now this Lock down thing. Too much drama to believe in

[FantasyGold]

Lol, probably to do with paying $4.6 Million  So is he going to go to hospital or jail?

[robelneo]

This is a big turn of events Sun is having big media mileage together with his Tron and that meeting that was postponed could turn out big although I doubt it, now he is being locked down I guess the story about gall stone is not true at all, he senses that the authorities are coming for him and he himself postponed it, we'll wait for the next drama and confirmation about this.

[tsaroz]

Couldn't verify about the accusations made on this post about Mr. Sun but what's in my knowledge is Tron is getting into some trouble as many of it's prominent members are leaving the team. Tron is still in it's early stages of development and losing some of the prominent minds behind it would surely hinder it's roadmap.

[Red-Apple]

Tron owners are just abusing the name of the companies they bought to get people like Warren Buffet involved and they are faking the story to pump their shitcoin up. and that is what happens eventually to everyone who does this, their token gets dumped hard.
things like his arrest are just making the process faster.

[elda34b]

That is just a rumor. The truth is that Justin Sun is in the United States. And he has livestream to prove it is true. But after those rumors, TRON dropped 20% in just a few hours, really scared of this market

Any factual timestamp when he did the livestream?

I still can't believe that people in this market are so easy to fool that they could led to believe eating with Buffet could bring some new big things for their project. Like, come on, you should throw that $4 million to development fund instead of doing some crappy happy meal.

[hrunya102]

It seems to me that yesterday's news is all planned action, fud news was specially prepared to provoke a drop in the price of TRX and make money on it.

[betty11]

Another mystery has just been started by this Justin Sun of person. I hate controversial character when piloting a public enterprise. He said he was sick and this report speaks of indictment. What do we believe and Tron experienced some losses.   

[bartolo]

When news come from China you need to be cautious since journalists often get lost in translation and thins are not really as they say, but in any case, this is what happens when the reputation of a project is linked to a single person.

[Msworld83]

I really feel this turn out well to be some drama in the industry but just a bad situation as Warren is aiming to be convince by the crypto worlds and the main player in the game is having such issue at theoment for glory , when we are all he to know which is which and willing to know what happen next as the game is on now for better or the other way round.

[bittick]

Strange, I don’t buy into this at all!

Kidney Stones in this current age is no big deal….. Something else was the reason

China will the next reason.

Im feeling glad i have dumped all of the shitty tron coin. Maybe he was eating tofu every day and that makes him gets kidney stone. for me, that guy was full with a lot of jokes and marketing gimmick.

[Piston Honda]

the fact that tron bullshit and justin scammer can get away this long with such bullshit is sad and funny at the same time.
makes a fucking mockery of crypto!!

[aioc]

I'm looking at the price of Tron and there's really no massive dump right now, it's actually hard to see if there is really dump of Tronbecause all the coins right now are down like Bitcoin, we'll see in a couple of days if this news if verified will have an impact on the price of Tron.

[xenomorphe1]

I have seen this news. Is it a fake news or a real news? Nobody can really trust anything. Price of TRON did get dumped, but it rebounded after. Cryptocurrencies prices are easily manipulated as there is no rules.

[cryptofirm]

I have seen this news. Is it a fake news or a real news? Nobody can really trust anything. Price of TRON did get dumped, but it rebounded after. Cryptocurrencies prices are easily manipulated as there is no rules.

maybe this article is good to read my friend
and you will know the fact about Tron CEO
https://cointelegraph.com/news/tron-price-plunges-as-justin-sun-denies-money-laundering-accusations