Hours after a shocking video went viral on social media, cryptocurrency project Tron has denied rumors that police raided one of its offices. In a statement published minutes ago, the Tron Foundation acknowledged that police had responded to an incident at Raybo Technology, the cryptocurrency…
Hours after a shocking video went viral on social media, cryptocurrency project Tron has denied rumors that police raided one of its offices.
In a statement published minutes ago, the Tron Foundation acknowledged that police had responded to an incident at Raybo Technology, the cryptocurrency firm’s research and development partner in Beijing, as depicted in the following video.
According to the foundation, police had been called in to suppress protestors upset about the “Wave Field Super Community” scam, which impersonated Tron. Victims have alleged that founder Justin Sun failed to adequately address the scam or warn investors that it was not associated with the actual TRX project.
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. Pictures and video circulating on the internet show scenes of the incident and the police response that removed them and secured the office.
Below is the TRON official statement:
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.
TRON officials expressed their sympathy and understanding for those who had been deceived, however, the company strongly condemns acts of violence that may be perpetrated as a result of events that are not in its 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.
In regards to reports of TRON’s inaction specifically regarding the Wave Field Super Community scam, in January after learning of the Wave Field Super Community and that it had been attracting investors in the name of TRON, TRON warned investors on its WeChat messaging group, Wei Bo official channels — Wei Bo and Dou Yin, etc. — to beware of potentially fraudulent schemes. The company posts similar warnings in its English-language territories and has a Community team that operates across the globe to answer investor questions and listen to problems. The company on multiple occasions has stated it reserves the right to pursue legal remedies against those that seek to infringe on the company’s name to sow confusion in the public marketplace.
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. Ruibo is working with police to bring the criminals to justice and continues to work internally to safeguard the rights and interests of investors.
July 8, 2019
Breaking…stay tuned for continuing Tron coverage.
Last modified: January 11, 2020 1:00 AM UTC