Cryptocurrency

Justin Sun Rubbishes Claims by Media House That TRON is Involved in Illegal Fundraising

TRON and its founder, Justin Sun, have landed in a fresh controversy after a business media outlet based out of China accused the latter of illegally raising funds of the crypto project. Accusations have come just a few hours after Tron Foundation announced the postponement of the much-awaited high profile lunch with billionaire investor Warren Buffett which was scheduled on 25th July, after Sun had to be admitted in an emergency for kidney stones.

The business media house has accused that Sun carried out illegal gambling services for Chinese residents using TRON and also alleged that he was currently in China itself. The media also accused that Sun’s previous creation Peiwo, a social media app reminiscent of Snapchat, was engaged in the pornography business.

Sun wasted no time in rubbishing the claim and took to Weibo, the Chinese microblogging website, to respond. He stated that the claims of illegal fundraising via gambling on TRON are false, as the network retired the gambling dapps in China on September 20, 2017, soon after the regulatory bodies in the country issued stricter regulations for online gambling.

Regarding the accusations against Peiwo App, he stated that it was based on the decentralized Wave protocol, which is open to all. He further added,

The Wave foundation acts as the initiator of the agreement and resolutely opposes the use of the Internet open-source agreement to engage in illegal activities. At the same time, it also calls on application developers to comply with the laws and regulations of various countries.

However, Sun did not decline the claim that he was in mainland China and did not even address it. If he is indeed in China, the fact that he responded so quickly, despite being in “kidney stone pain,” will definitely raise some eyebrows, though.

Tags

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
Event Information
Event Information
Back to top button