Tron coin (TRX) lost around 10% of it’s value in less than 30 minutes due to a FUD caused of some videos posted by CoinSpice.io’ founder Hayden Otto, showing police raids at Tron offices in Beijing.
Police raids at #Tron offices in Beijing? Additionally, there’s many angry people gathered there who are saying things like “Tron is a scam”. $trx #trx @justinsuntron pic.twitter.com/qFykQErQu6
— Hayden Otto (@haydenotto_) July 8, 2019
Following this, TRX price dropped sharply:
It turns out that some scammers were using a derivative of Tron’s Chinese name to conduct a ponzi type of scam, which many Tron enthusiasts fell for subsequently losing millions and even one victim committing suicide. Now those victims are blaming Tron and Justin Sun for not confirming if that other group was officially working with Tron. More details can be found here
