An on-chain crypto investigator took to social media to expose the supposed black truth behind Justin Sun’s Tron but has thrown Ethereum in the mix, alleging that the cryptocurrency is backed by the CCP and may harbor crypto wallet addresses by Fentanyl traffickers.
On-Chain Detective Unveils Potential Tron Ponzi Scheme
An X (formerly Twitter) user going by the username @BoringSleuth has gained the attention of the crypto community after uncovering potential evidence of Tron allegedly being a Ponzi scheme governed by one of the world’s largest crypto criminal drug cartels.
“I showed and told the World that Tron $TRX was a massive Ponzi, run by a part of the largest criminal Cartel in the World, and connected to the CCP,” BoringSleuth said.
I showed and told the World that Tron $TRX was a massive Ponzi, ran by a part of the largest criminal Cartel in the World, and connected to the CCP.
Today, the DOJ charged 8 CCP companies with illegal drug production, distribution, and sales around Fentanyl. Over half of their… https://t.co/Yjbnv2fgPN pic.twitter.com/do4JLiAgLh
— TruthLabs 🫡 (@BoringSleuth) October 4, 2023
BoringSleuth disclosed that the United States Department of Justice (DOJ) has sanctioned eight Chinese Communist Party (CCP) companies for allegedly operating a clandestine drug production and distribution sales network around Fentanyl.
The crypto investigator revealed that more than half of the wallets owned by these companies were traced back to Tron and the remainder allegedly being on the Ethereum blockchain.
After analyzing the original sales of the TRX token, BoringSleuth stated that he had reviewed the top 20 cryptocurrency wallets in Tron’s original token sale list to decipher the owners of the wallets and how much TRX supply these wallets have acquired.
According to the investigator, out of the 20 wallets, 17 were created and owned by the infamous criminal organization disguised to represent genuine investors. He revealed that the criminal organization was connected to the CCP, and 98% of Tron’s total token supply was received by these 17 wallets.
The on-chain investigator also mentioned that cryptocurrency exchanges like Huobi Global, and cryptocurrencies like Shiba Inu may also be linked to the CCP and Wanxiang, a Chinese multinational conglomerate and the team that funded Ethereum Foundation wallets and Ethereum’s Founder, Vitalik Buterin.
ETH prie falls back to mid $1,600s | Source: ETHUSD on Tradingview.com
Investigations Cast Shadows On Ethereum
The crypto industry has experienced a series of Ponzi schemes and rug pulls for years now, causing investors and regulators to be wary of crypto exchanges and organizations in the space.
While Tron is faced with speculations of being a well-orchestrated Ponzi scheme and having connections with the CCP, the revelation that Ethereum, the world’s second-largest cryptocurrency may be backed by the CCP and connected to companies involved in drug trafficking has left the crypto community in a paradox.
According to BoringSleuth, the CCP is allegedly supporting Ethereum and other blockchains as well as multiple Decentralized Exchanges (DEX) and Centralized Exchanges (CEX) in the crypto space.
The crypto investigator utilized a previous transaction that saw the CCP receiving 133,700 ether on a single Genesis Block address owned by the party, as a reference to a connection between Ethereum and the CCP.
BoringSleuth has also stated a potential connection between Ethereum’s Founders and the CCP, which he said he would be revealing in detail soon.
The allegations faced by Tron and Ethereum come amid the increasing scrutiny of China’s role in the cryptocurrency landscape. Although the crypto X community is presently reeling from the on-chain investigator’s hypothesis, no concrete evidence linking Ethereum to the CCP has emerged, leaving the allegations in the realm of speculation.
Featured image from Medium, chart from Tradingview.com