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  • “The victims had been promised high rates of return on their investments in the name of TRON,” Tron.
  • Tron (TRX) dived massively following the Ponzi Scheme related protests.

The cryptocurrency space was in shock following several videos that surfaced on the internet of protestors at Tron’s Beijing offices. The protestors were accusing Justin Sun of being complacent with a Ponzi scheme that made away with investors funds as reported by FXStreet yesterday.

The police came into the offices to protect the staff as well as put things in order and prevent the angry crowd from causing damage. Following the news, the Tron Foundation issued an official statement in response to the allegations.

“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.”

The protestors blame Sun for not dissociating with the Ponzi scheme. However, Sun told CryptoSlate that news outlets are to blame for the accusations placed on Tron.

“The very heart of TRON’s mission is to promote a fair and open internet that does not stifle discussion and dissent, however I also believe there’s a heightened responsibility from those disseminating news to be fair AND accurate. The twisting of events did nothing to help people who in some cases saw their life savings wiped out, while it hurt investors in the TRON community who saw the value of their holdings decline on fake news.”

Tron (TRX) dived massively following the news yesterday. At present the price is trading at $0.0347 while holding on to the subtle 0.87% gains in the last 24-hours.   Tron currently has a market cap of $2.3 billion and 24-h trading volume of $896 million.