Allegations of Market Manipulation Involving TRON
Allegations of market manipulation involving TRON (TRX) have resurfaced, spearheaded by claims from Zeng Ying, a financial journalist and former girlfriend of Justin Sun, the founder of TRON. In her recent social media posts dated January 31, 2026, Zeng, who asserts she had close ties to Sun during the project’s inception, alleges that he engaged in deceptive practices on the Binance cryptocurrency exchange.
Details of the Allegations
Zeng contends that Sun utilized the identities and personal devices of several employees to create numerous accounts on Binance. She accuses him of orchestrating a scheme where these accounts facilitated coordinated buying and selling of TRX, artificially inflating its price before selling off substantial amounts to unsuspecting retail investors, thus allegedly generating significant illicit profits.
Furthermore, she claims to possess a wealth of evidence, including WeChat communications, employee testimonies, and internal documents, which she has offered to share with U.S. regulatory authorities, expressing her willingness to cooperate with the SEC.
Scrutiny of the Claims
Despite her assertions, Zeng’s allegations have come under scrutiny, as there is currently no documentary evidence linking her directly to TRON’s operations during the 2017–2018 period. While Zeng passionately defends her claims, stating she has more proof than what she has revealed, Justin Sun has yet to issue a direct rebuttal. Instead, he shared a message on social media encouraging his followers to focus on their projects, implying he is undeterred by the accusations.
Connection to Previous SEC Actions
Zeng’s narrative aligns with existing SEC actions against Sun, who was charged in March 2023 with manipulating the TRX market through more than 600,000 suspicious trades across his controlled accounts. This past investigation hints at a potentially larger pattern of misconduct within TRON, although Zeng’s specific allegations regarding the misuse of employee identities were not previously uncovered.
Market Response and Future Implications
As the market responds to these latest revelations, TRON’s value remains relatively stable at around $0.28, with only slight fluctuations, while other cryptocurrencies also experience adjustments. Additional scrutiny is directed toward the World Liberty Financial token (WLFI), which is linked to TRON and is currently trading near $0.12. The ongoing developments around Zeng’s claims may prompt further investigations if they catch the attention of regulators, potentially escalating into a significant legal saga.
