Crypto Expert Accuses Justin Sun of Running a “Web of Deception”
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- Crypto expert accused Justin Sun of using wash-trading on the crypto exchange Huobi.
- LeClair claims USDT deposits on HTX are being swapped for stUSDT without users noticing.
- Sun swaps fake stablecoins for USDC and USDT to increase his USD liquidity, according to the expert.
In a series of posts on X (formerly Twitter), crypto expert Dylan LeClair called out prominent crypto figure and founder of TRON, Justin Sun over what he regarded as a “web of deception.” LeClair, in a long trail analysis, tied knots between Sun, his enterprises, and “fake” stablecoins being swapped for USD.
In particular, Leclair accused Justin Sun of wash-trading crypto tokens on the crypto exchange Huobi, now known as HTX. Sun took over the exchange in an acquisition last year, which LeClair believes now sits at the center of the opaque transactions.
While citing several data, LeClair alleged that following the exchange’s acquisition, Sun has been swapping the deposited USDT with stUSDT without customers noticing. At the time of the takeover, HTX had $1.5 billion in USDT deposits but recent data shows that has reduced significantly.
According to LeClair, stUSDT is a toke…
The post Crypto Expert Accuses Justin Sun of Running a “Web of Deception” appeared first on Coin Edition.
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