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Justin Sun "Onyxcoin (XCN), Market Manipulation Allegations... Users Need Caution"

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Minseung Kang
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  • 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.
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  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

Image = Onyxcoin Homepage CaptureImage = Onyxcoin Homepage Capture

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."

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Minseung KangholderBadgeholderBadge dark

minriver@bloomingbit.ioBloomingbit reporter

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