Suspected of multiple crimes and investigated by the US FBI? Justin Sun denies, saying he does not live in the US

After being accused, Justin Sun stated on social media that he attached great importance to compliance and regarded compliance as his lifeline. He maintained good relations with regulatory authorities in various countries (including China and the United States) and jointly promoted compliance and development in the blockchain industry. He has hired a top U.S. law firm to hold foreign media accountable for their unscrupulous rumors.

Text | Xu Cihao

On March 10, the American technology blog The Verge reported that Tron founder Justin Sun was being investigated by the FBI and SEC on suspicion of numerous crimes.

Soon, the topic "FBI investigating Justin Sun" topped the Weibo hot search list.

Regarding the rumors that the FBI is investigating Justin Sun, relevant personnel from Tron told the reporter of Blockchain Daily that Justin Sun’s response on his social media platform was the official response.

After being accused, Justin Sun stated on social media that he attached great importance to compliance and regarded compliance as his lifeline. He maintained good relations with regulatory authorities in various countries (including China and the United States) and jointly promoted compliance and development in the blockchain industry. He has hired a top U.S. law firm to hold foreign media accountable for their unscrupulous rumors.

Is Justin Sun being investigated by the US FBI?

According to The Verge, according to revelations from several current and former employees of Sun Yuchen's company and on-chain data, Sun Yuchen organized a market-making team during his time at Tron, was suspected of insider trading, and fled abroad to evade China's ICO ban. During his time at BitTorrent, he created an almost uncensored KYC tool to expand user participation in transactions.

In addition, during his time at Poloniex, Justin Sun organized a team to seize small amounts of assets lost by mobile phone users on the trading platform and took them for himself. He is also suspected of fraud, money laundering through immigration, or evading legal sanctions.

The Verge said that the U.S. Internal Revenue Service, FBI and others have intervened in the investigation, and Justin Sun may use the citizenship of other countries to evade legal sanctions.

The report also stated that all sources involved in the disclosure expressed concern that this move would lead to retaliation from Justin Sun.

In response, Justin Sun posted five messages on social media to deny the allegations made by The Verge. He said that Poloniex has always enjoyed a good reputation as a SAFU exchange and has maintained the highest standards in protecting customer crypto assets over the past eight years. It also has a good track record and has no major security vulnerabilities in its operations.

Justin Sun said that this was a lie by The Verge reporter and a blatant slander of Poloniex's operations. Polo has sound risk management and strong financial resources, and has always provided first-class services to customers. And the company has been working hard to cooperate with regulators and invest in the most advanced KYC facilities that meet industry standards.

Justin Sun revealed that Poloniex is not registered in Seychelles, and the exchange does not operate in the United States or serve the United States.

Justin Sun also responded in his capacity as "WTO Ambassador" that in Grenada, he strives to uphold the highest standards in his efforts in the public and industry fields. He emphasized that he would reserve the right to take legal remedies against any entity for publishing false information, and hired Harder LLP as legal counsel.

Soon, the topic "FBI investigating Justin Sun" topped the Weibo hot search list.

Justin Sun responded on Weibo, “As Grenada’s ambassador to the WTO, I am based in Geneva. I am not an American, do not have a US green card, do not live in the US, and am not involved in any US tax matters at all.”

The top players in the cryptocurrency world

According to public information, Justin Sun was born in Xining, Qinghai in July 1990, grew up in Huizhou, Guangdong, and studied at Peking University and the University of Pennsylvania, an Ivy League school in the United States.

In 2014, Justin Sun returned to China and founded Ruibo (Beijing) Technology Co., Ltd., engaged in the development of decentralized clearing system products. He then pioneered the concept of "voice value social networking" and launched the mobile social app "Peiwo".

In February 2015, Justin Sun announced that he had received an admission letter from Lakeside University, a "non-academic physical university" founded by Jack Ma, and became one of the first students of the school. Since then, he has often called himself the youngest "Jack Ma disciple."

In July 2017, it created the blockchain project "TRON".

On July 24, 2018, Justin Sun announced that TRON had successfully completed the acquisition of BitTorrent and all its products.

As the founder of the virtual currency TRON, Sun Yuchen has many labels, such as "the one who got admitted to Peking University", "Jack Ma's disciple", "Buffett's lunch bidder"...

Most of these labels are attributed to Justin Sun’s consistent self-promotion and marketing.

in the country, there are many people who engage in hype, but it is rare to find people who are as good at it as Justin Sun.

Many people in the cryptocurrency circle told the reporter of Blockchain Daily that Justin Sun can be said to be a marketing genius in the cryptocurrency circle. Relying on popularity and marketing topics, Justin Sun frequently appears on hot searches, which also brings traffic to his Tron project.

In December 2021, Justin Sun was reported to have bought a ticket for Blue Origin to fly to space for $28 million. Previously, Justin Sun's most famous spending was buying a lunch with Buffett.

In 2019, Justin Sun won the bid for Buffett's charity lunch for nearly $4.57 million, which was $100 higher than the second place. Justin Sun said that he wanted to bid for Buffett's lunch as early as 2018, with the purpose of telling Buffett why Bitcoin is good.

Sun Yuchen, who stood up Buffett in July 2019 due to "sudden kidney stones", was soon reported by Caixin.com as having been on China's border control list as early as June 2018, and would be investigated for suspected illegal fundraising and money laundering.

Afterwards, Sun Yuchen posted a message on Twitter to deny it, saying he was "at home" but sharp-eyed netizens discovered that the background of Sun Yuchen's photo was the Bay Bridge in San Francisco, USA. Since then, there has been no news about Sun Yuchen's whereabouts, and his Weibo account was banned in December 2019.

Just a few days ago, Justin Sun added another title - "Grenada's Permanent Representative to the World Trade Organization."