DeFi project in Tron disappeared with $ 10 million

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Tron-based DeFi project SharkToken vanished by defrauding its investors. It is stated that the emphasis made on the platform, which has at least 25 thousand users, has reached 10 million dollars.

The developers of the SharkTron DeFi project defrauded TRX tokens with a total value of up to $ 10 million. Confirming the theft, the Tron Foundation notified SharkTron token holders that some of the lost coins were frozen. The scam occurred just weeks after SharkTron developers released a press release inviting investors to buy the token.

In a statement made on the Twitter account of the Tron Foundation, “We contacted Binance regarding the Shark incident and worked together to uncover the people behind this incident and track down the stolen money. Some of the coins were frozen at Binance. If you have been a victim in this incident, please report it to the police. We will work with exchanges to keep track of the remaining money and protect the interests of the Tron community. ” statements took place.

The SharkTron project promised high returns, like many projects that signed such scams. Investors who could not access the DeFi platform’s website soon realized that they were defrauded.

On the other hand, Twitter users warned Sun about the SharkTron project over and over again, according to one claim. It is alleged that Sun nevertheless ignored the red flags in the project. The SharkTron protocol was listed on the decentralized exchange Justswap, created under the leadership of Sun. Moreover, it is stated that the Justswap platform keeps SharkTron in the white list, despite growing concerns and complaints.

See Also
DeFi protocol bZx hacked again! 8 million dollars lost

A user stated that they lost 357,500 TRX worth about 9,000 dollars in SharkTron.

At least 25 thousand users

The data on Dapp.com shows that the number of SharkTron users is at least 25 thousand. While the total transaction volume in the protocol exceeds 70 million dollars, the total number of transactions is at the limit of 350 thousand.


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