Cryptocurrencies

Police storm Tron offices in Beijing to protect staff from angry mob

Chinese police have been called to Tron’s offices in Beijing after an angry mob gathered to protest against an alleged Ponzi scheme that was using a name similar to Tron to dupe investors.

Videos began to circulate on social media this morning as police were seen forming a line inside the office doors.

According to Twitter user CryptoAuthority, the Ponzi scheme stole $30 million last week, with one investor committing suicide as a result.

Despite the fact that the enraged group were chanting “Tron is a scam”, the company’s CEO Justin Sun refuted any claims of involvement by labelling them as “fake news”.

Sun wrote: “Tron and BitTorrent is fine. Everything is fine. We are preparing for #BitTorrentSpeed launch today. Stop spreading fake news and pictures.”

Renowned analyst and former guest on Coin Rivet TV, Mati Greenspan, also dispelled rumours by writing: “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.”

Several companies have been using Tron and the names of other projects to inflate alleged Ponzi schemes in recent months. Sun even warned investors about specific schemes on Friday.

For more news, guides, and cryptocurrency analysis, click here.

Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

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