Justin Sun "Onyxcoin (XCN), Market Manipulation Allegations... Users Need Caution"
Minseung Kang
Summary
- Justin Sun, founder of Tron, raised allegations of market manipulation by Onyxcoin (XCN) and urged users to be cautious.
- He stated that there is a possibility of harm to users through high leverage contracts.
- The incident is reported to the SEC and the U.S. Department of Justice for further investigation.
A private chain and LAAS (Ledger-as-a-service) solution platform chain (XCN) for enterprises is suspected of market manipulation.
On the 24th, Justin Sun, founder of Tron (TRX), stated on X (formerly Twitter), "Onyxcoin is currently involved in serious market manipulation," adding, "They are engaging in activities that could severely harm exchange users by using high leverage contracts. We urge major cryptocurrency exchanges to be cautious."
He added, "We plan to report their illegal activities to the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DoJ) and request further investigation."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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