Justin Sun is being investigated by FBI, claims The Verge: This is what Tron founder said
Justin Sun is a man of many faces, known as the founder of Tron and the man behind the BitTorrent platform. As one of the most controversial figures in the crypto industry, the founder has already been targeted twice by The Verge, with the second report appearing on March 9. In the report titled "The Many Escapes of Justin Sun" by Christopher Harland-Dunaway, the author reveals that the Tron founder is being investigated by US SEC and FBI for more than 10 charges.
Justin Sun has an "absurdly high" tolerance for risks
The Verge report confirms that the author spoke to a person who was a former employee of Justin Sun. In addition, the report reveals that the US SEC, the FBI and the U.S. Attorney's Office for the Southern District of New York are investigating the Tron founder, and the report also claims that he runs an insider trading team in Beijing. According to the former employee who spoke to the author, "he was doing the so-called market-making insider trading all the time."The Verge also reported about Justin Sun playing a major role in illegal activities on the Poloniex crypto exchange. According to the article, Justin Sun, who recently left Tron, bought Poloniex from Circle and relaxed all KYC implementations that Circle had put in place, according to the report. The Verge also claims that "Sun moved Poloniex to the Seychelles" to get away from US regulations.
Tron founder's reply
Sun took to Twitter to respond to the claims from The Verge article. The founder said that Poloniex "has always enjoyed a sterling reputation from its origin as a SAFU exchange.""We have upheld the highest standard in safeguarding crypto assets for our clients with a proven track record without any major security breach in operation in the last 8 years," added Justin Sun in the same tweet.
Sun added that report was "a blatant defamation about the Poloniex operation" and that Poloniex (Polo) "enjoys robust risk management and strong financial resources that have provided top of class services to our customers throughout its history."
Furthermore, Justin Sun also added that Poloniex has added "state-of-the-art KYC" and that the firm is not registered in Seychelles.
"The exchange does not operate in the US, nor does it serve US customers," Sun also confirmed.
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