The Tron project showed high growth rates of the released token within just a few days, reaching a level of capitalization of $14 billion. However, after rumors about the sale of all of its coins by the network’s creator, Justin Sanoy, Tron lost at once about 30% of its price. The network has information on the sale of 6 billion coins for a total amount of more than $300 million. Despite the fact that Justin Sanoy denied these blames, the coin price significantly decreased.
Wishing to support the project, he announced the intentions of the Tron Foundation to freeze 34 billion tokens, which now belong to the creators. However, the community understands that this “freeze” is just Justin’s promises. In fact, coins are stored on a simple wallet, and are available for withdrawal and sale at any time.
The storage of the “frozen” asset on the ordinary wallet of Sanoy explains the imperfection of Ethereum smart contracts, the vulnerability of which can lead to the loss of tokens. Until a 100% guarantee of security is obtained, the team will continue to use the usual “cold” wallet for these purposes,” Justin emphasized. The address of this wallet will be available for the whole community, so that everyone can check the lack of activity on it.