Tron Office located in Beijing has been encircled by police when the crowd gathered to protest against a Chinese Ponzi scheme which went under a Tron-like name, well-known personality Crypto Authority shared reports on Twitter on July 8.
Various videos of crowds encircled with the Police Officers in the Tron's office have spread on Twitter, including people seemingly coming to express outrage at the local crypto scam which directed to $30 million worth of losses and one suicide.
You can observe in the videos; people are finally considering Tron to be fraudulent activity, along with the crows also yelling, "Tron is a Scam."
Justin Sun, CEO of Tron, commented on the news calling out headlines ensuring that Tron's office was raided by police as "fake news."
“Tronfoundation and BitTorrent is fine. Everything is fine. We are preparing for BitTorrentSpeed launch today. Stop spreading fake news and pictures.”
Sun has also alerted investors against scam schemes that are using names of Tron and Tron-owned BitTorrent.
“As a leading blockchain protocol, Ponzi schemes are using TRON, BitTorrent or uTorrent names like “MMM bitcoin, Ethereum pyramid & EOS ecosystem schemes,” Justin Sun declared on July 5. He added, “We will never ask you to send money.”
Justin Sun's response has pursued reports on claimed crypto scam scheme known as "Wave Field Super Technology" that is linked with Tron by local investors, as in China, Tron is well-known by the name "Wave Field."
As per the report shared by well-known Chinese news agency Nuclear Finance, "Wave Field Super Community" that was released in January 2019, ensuring to be "super representative" of Tron. However, Investors were asked Tron to mention the connection between the entities, Justin Sun has also commented on the matter since January, report says.
Based on that, angry people reached to the Tron's Office to show their rage against the firm's silence over the scam entity running under the same name.
Mati Greenspan, Senior Market Analyst, working at eToro, said that police has reached to the Tron's Office to safeguard the team against angry investors. Greenspan tweeted:
“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.”