Tron Founder Justin Sun Claims Unfair Token Acquisition by Huobi Founder’s Brother
In Brief
Justin Sun, the founder of Tron, raises allegations of unfair token acquisition against Li Lin, the brother of Huobi’s founder.
Sun claims that Li Lin’s brother acquired Huobi’s native token (HT) at no cost and sold it for substantial amounts of cash.
These accusations have cast doubt on the integrity of HT’s distribution process and have sparked controversy within the blockchain community.
In a startling turn of events, Justin Sun, the mastermind behind Tron and a major stakeholder in Huobi, has recently made a series of bold accusations against Li Wei, the brother of Huobi founder Li Lin. Sun claims that Li Wei obtained Huobi’s native token (HT) unconventionally, acquiring it at no cost, only to subsequently sell it for exorbitant sums of money. These allegations have sent shockwaves through the blockchain community, casting a shadow of doubt over the integrity of the token’s distribution process.
Sun tweeted that “in order to protect people’s interests, the Huobi Global Advisory Committee and the HT DAO community decided to recover and destroy the HT obtained by Li Wei at zero cost.”
Efforts are underway to engage Li Wei in discussions for a refund and the destruction of his remaining HT tokens. The action prioritizes the best interests of the HT DAO community, Sun wrote. Furthermore, Sun emphasized that Li Wei’s absence of contributions to the HT community is evident, and he strongly supports the notion of acknowledging and rewarding individuals who truly foster the progress and advancement of HT DAO.
Li Lin sold the Huobi exchange to Sun in 2022.
According to journalist Colin Wu, Li Lin expresses his hope for Sun to present concrete evidence, and if proven true, Li Lin is willing to provide compensation that is ten times the amount.
The market value of HT currently stands at $480 million, while its trading price rests at $2.96.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
