TRON foundation and Justin Sun break silence on "police raid" of offices

08 Jul, 2019 | Updated: 08 Jul, 2019
by Will Heasman
TRON foundation and Justin Sun break silence on police raid of offices

Justin Sun and the TRON Foundation have finally broken their silence on what was one of the strangest and most confusing events in recent crypto history. A blog post by the TRON foundation helped to put rumors and speculation to rest... for the most part.  

Earlier today it was reported that TRON’s Beijing offices were “raided” by local Chinese officials, following reports of an exit scam from a suspected TRON affiliated Ponzi-scheme.

The Ponzi, known as the“Wave Field Super Community” recently shut down without warning leaving thousands out of pocket to the tune of $30 million, and leading to the apparent suicide of one investor.

Defrauded investors took to the Tron offices to protest, along with police, who, according to eyewitnesses, were raiding the building. 

The official version

Now the Tron foundation has shed light on the incident. According to a blogpost, disgruntled investors of the Wave Field Super Community attempted to enter the office of Beijing research and development center of Raybo technology, a partner of TRON, in response police removed the protestors and “secured the office.”

“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,” read the official Tron statement.

The blog post continues by sympathizing with those who lost out to the Ponzi but added that it condemns “acts of violence” committed in response to events that are not in TRON’s direct control.

“TRON has on multiple occasions warned investors of potential pyramid schemes or illegal activities that attempt to defraud investors under the guise of fast riches using blockchain technology,” The post added.

Tron also addressed the outcry about their lack of response, noting that they attempted to warn investors back in January after learning of the Wave Field Super Community.

The post also notes that Raybo Technology, the offices which were raided by investors sought a cease and desist against Wave Field Super Community:

“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”

Too little too late

Responses to Tron’s and Justin Sun’s attempt at remedying the situation fell mostly on deaf ears, with the majority either posting memes or picking holes in the statement:

Is everything as it seems or is there more to this story than meets the eye? Let us know what you think in the comments

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