$145 million lost in China to Wave Field Community Ponzi, TRON imposter

There is a major confusion in China after several thousands of Chinese investors discovered they have lost about $145 million to the Wave Field Community Ponzi scam.

It turns out that a certain Ponzi scheme had been using the name of TRON, BitTorrent and uTorrent to deceive investors that they were investing in these platforms.

In its own right, Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content.

However, unknowingly to TRON and perhaps the Chinese victims of The Wave Field Community scam, the imposters were basically been swindled of several millions using bogus claims.

With anger and unpalpable dismay, hundreds of The Wave Field Community stormed office of TRON in Beijing and the office of Raybo Technologies. The company is an affiliate of affiliate that have filed a number of U.S. trademarks for various Tron-related phrases.

Things almost got ugly at the office of TRON and its affiliates that police had to be invited.

According to an official company post, the police arrived to protect the office from “people [who] were deceived by the so-called ‘Wave Field Super Community,’” a group that used the “Chinese-language version of TRON’s name to defraud investors.”

Eye witness at the scene said the victims called Tron itself a scam and cited the alleged suicide earlier this month of one investor in Wave Field Super Community.

According to CoinDesk, the scam claimed it was a “Super Representative,” of TRON essentially an important node on the network, a claim that Tron never confirmed. The site closed suddenly on July 1, leading to mass confusion.

The matter had degenarated into a a major problem as users of the Chinese microblogging site Weibo circulated what appeared to be a suicide note by a woman named Xia Bing, who claimed to have borrowed money to invest in the scheme.

CoinDesk said the note first appeared on a site called Nuclear Finance in China.

There are no information on who and who is behind the Wave Field Community Ponzi scheme but much havoc and damage has been done to its victims and also Tron that has seen a 3% drop in its prices across major exchanges.