Odaily Frontline｜DeFi project SharkTron ran away, TRON and Binance froze some funds

余YU

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2020-11-10 13:37 (UTC+8)

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Once listed as a JustSwap whitelist project, the developer allegedly stole $10 million in TRX.

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Once listed as a JustSwap whitelist project, the developer allegedly stole $10 million in TRX.

This article comes fromFXStreetsecondary title

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Twitter users have reported an exit scam in the Tron ecosystem.

The community accused the SharkTron anonymous developer of being an exit scam, and has already taken hundreds of millions of TRX away. While the exact amount of the theft remains unknown, Twitter users reported the loss of between 366 million and 400 million TRX (worth around $10 million).

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TRON Foundation confirms the project is a scamThis was confirmed by the official Twitter account of the Tron Foundation

, and has contacted Binance to jointly track down the criminals and the stolen funds. While Binance has frozen some of the funds, other exchanges may also be involved in recovering the funds.

The team advised victims to file a report with local police. “If you are a victim of this case, please file a report with the police and cooperate with law enforcement to seek recovery. We will also cooperate with all exchanges to track the remaining funds and protect the interests of the TRON community.”On October 24, the SharkTron project published a press release on Bitcoin.comAround the same time, people started having trouble accessing the project's website.

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Many users questionedJustSwap's early whitelisted project announcements included these three tokens，JustSwap's early whitelisted project announcements included these three tokensAnnouncement issued on October 28

announced the delisting of these tokens). Twitter has been flooded with negative comments, with users alerting Tron founder Justin Sun to the fraudulent nature of the project and even asking him to block the wallets of anonymous developers. However, Justin Sun ignored these warnings.

Some have even accused Justin Sun of being directly involved in the scam; however, these allegations have not been substantiated by the facts.

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What is SharkTron?

SharkTron is a DeFi project based on TRON blockchain. It was initiated by an anonymous developer nicknamed Daniel Wood. According to an official press release published by Bitcoin.com, the project focuses on creating a fully autonomous platform, with gradual transitions to autonomy by community members. The developer invites TRX users to pledge their tokens in exchange for the platform's native token SHARK (SRX).

According to the press release, “SharkTRON is an autonomous full-cycle ecosystem. Platform members use TRX tokens to mine SHARK (SRX) tokens. These tokens can be used for activities within the platform and can also be exchanged for JustSwap.”