TRON Founder Justin Sun Denies Rumors Of Arrested Himself By Hong Kong Police

Justin Sun denied negative rumors related to him. (Photo; Doc. Coincholik)

JAKARTA - On April 11, rumors about Justin Sun's arrest, founder of Tron (TRX) and former diplomat for Grenada, by Hong Kong police began spreading on Twitter. The rumors are rapidly spreading, perhaps due to a recent attack on the digital asset sector that has been in the spotlight.

According to a Tokenist report, not long after the rumors spread, Sun immediately denied allegations of his arrest. From the start, the rumors had been questioned because the source mentioned said Sun was being held at the "Micinawa Station but" which didn't exist.

Justin Sun's Response

Not long after, Justin Sun himself appeared in the comments column of the original tweet to refute the rumors by simply writing "4. However, the rumors were quickly reproduced by several accounts as possible news. The spread of these rumors caused the price of the TRX Tron token to experience a sharp price drop before finally recovering and becoming stable again.

The number four in response to inaccurate or incorrect news about digital assets has been popularized by Changpeng Zhao, CEO of Binance. In January, CZ had uploaded "do's" and "don'ts" for 2023, where he invited his followers to connect the list whenever he sent the number "4" and linked it to "ignoring the FUD, fake news, attacks, etc."

Entangled In Legal Problems

Justin Sun, arguingly, has become a controversial figure in the world of digital assets. However, he has been legally protected by his diplomatic status with the Grenada government for a long time. However, this status has recently become a point of dispute when a local media reports that Sun's affiliation with the Caribbean nation has ended in 2022 due to a change of government.

A few days after the story emerged, Sun confirmed via his Twitter account that he was no longer a diplomat, and this change was effective from March 31, 2023.

Along with these developments, the founder of Tron is also faced with demands from the United States SEC (Securities and Exchange Commission). On March 22, the Commission claimed that Sun had sold unregistered securities, particularly in the form of TRX and BTT tokens, as well as being involved in market manipulation.