As Justin Sun's Tron Network has undergone a significant upgrade, TRX price has seen a major rally despite the recent hack. Reported, scammers hacked the official Twitter account of Tron and used it to steal user funds. As the Sun tracked the stolen funds to OKX, he contacted them to freeze the property.
Noteworthy, the TRX price, currently trading at $ 0.2482, has advanced a marginal $ 1.6% in the last 24 hours and a well -known 7.2% last month despite a 0.6% weekly sinking. Although the TRX reached a high -day high $ 0.2498 following upgrading, Twitter Hack pulled the price.
Tron upgrading enhances TRX prices despite recent security violations
Justin Sun's Tron Blockchain has received a major upgrade, only to be able to be through a security violation of the official X account of the platform shortly after. However, the Tron's TRX token stands largely that has not been affected by the hack, which has fallen by almost 2%.
Immediately after upgrading, the token saw a significant flow of 7%, with its increased trading volume by a 43%. According to Tronscan's on-chain data, the transaction volume in the Tron network rose 15% to more than 5.8 million transactions by 1:00 PM UTC
Despite the hack, the TRX token now trades around $ 0.24, which sparks optimism within the Tron ecosystem.
Twitter Hack: What happened to Tron?
Following the upgrade, the Tron ecosystem faced a security violation, along with scammers who hacked the company's official Twitter account to promote a scam. With the compromised account, scammers stole funds and moved it to accounts that were said to be linked to OKX, a leading crypto exchange.
Take a quick action in this regard, Justin Sun encourages OKX to let funds connected to the scam. Responding to X, Sun wrote to X,
We immediately called to @OKX to immediately refreeze and investigate the deceptive funds deposited following the illegal acquisition of the @Trondao Twitter account. We trust that OKX will act quickly and responsible, making sure its platform does not become a safe shelter for the proceeds scams.
Further, looking for support from the investigation group, the sun exposed the scammer deposit: EuzlBJDKCXYEPW7SDRN8GSAFKMEPXNW9VK6FZR8ZRQWH. He also provided two transaction hashes:
- 5ia3uxng1fu ……… ..zvmrzea
- 5a1eggewnxquusdk ………… nndhvhyh53ad
OKX responded
In response to Justin Sun's request, the founder of OKX Star Xu posted that the platform will cooperate with law enforcement and can fund funds based on preliminary evidence. However, he added that continuous freezing requires legal documentation from the authorities.
Despite these events over the past few hours, the TRX price remains stable, trading in a green zone.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of Blockchain, Web3, and Fintech spheres experience. He established himself as a knowledgeable and engaging voice in cryptocurrency and blockchain space. His experience as an assistant professor in English and literature has been further added to his search for knowledge production, well-researched, and accessible content.
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