TRX Price Surge Despite Twitter Hack & Scam; Justin Sun Urges OKX To Freeze Funds
By: bitcoin ethereum news|2025/05/03 23:15:01
0
Share
As Justin Sun’s Tron network has undergone a significant upgrade, the TRX price has seen a major rally despite the recent hack. Reportedly, scammers hacked the official Twitter account of Tron and used it to steal user funds. While Sun traced the stolen funds to OKX, he contacted them to freeze the assets. Notably, the TRX price, currently trading at $0.2482, surged by a marginal $1.6% over the last 24 hours and a notable 7.2% over the past month despite a 0.6% weekly dip. Though TRX reached a daily high of $0.2498 following the upgrade, the Twitter hack pulled the price down. Tron Upgrade Boosts TRX Price Despite Recent Security Breach Justin Sun’s Tron blockchain received a major upgrade, only to be hit by a security breach on the platform’s official X account shortly after. However, Tron’s TRX token stood largely unaffected by the hack, surging by nearly 2%. Immediately after the upgrade, the token saw a significant surge of 7%, with its trading volume increasing by a whopping 43%. According to TronScan’s on-chain data, transaction volume on the TRON network surged 15% to over 5.8 million transactions by 1:00 PM UTC Despite the hack, the TRX token is now trading around $0.24, sparking optimism within the Tron ecosystem. Twitter Hack: What Happened to Tron? Following the upgrade, the Tron ecosystem faced a security breach, with scammers hacking the firm’s official Twitter account to promote a scam. Using the compromised account, the scammers stole funds and moved them to accounts allegedly linked to OKX, a top crypto exchange. Taking quick action on the matter, Justin Sun urged OKX to freeze the funds connected to the scam. Addressing X, Sun wrote on X, We urgently call on @okx to immediately freeze and investigate the fraudulent funds deposited following the illegal takeover of the @trondao Twitter account. We trust that OKX will act swiftly and responsibly, ensuring that its platform does not become a safe haven for scam proceeds. Further, seeking support from the investigation team, Sun exposed the scammer’s deposit address: EuzLBJdKCxYEPW7SDrn8GSaFkMEPxnW9Vk6fZr8ZrqwH. He also provided two transaction hashes: 5iA3uxng1Fu...........ZvMrZEA 5a1egGEwnxquSDK............NNdHvhyH53ad OKX Responds In response to Justin Sun’s request, OKX Founder Star Xu posited that the platform will collaborate with law enforcement and may freeze funds based on preliminary evidence. However, he added that continued freezing requires legal documentation from authorities. Despite these incidents over the past few hours, the TRX price remains stable, trading in a green zone. ✓ Share: Nynu V Jamal Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/trx-price-surges-despite-twitter-hack-justin-sun-urges-okx-to-freeze-funds/
You may also like
Where will South Korea's cryptocurrency taxation head?
There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...
Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats
"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."
Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing
Overview of Important Market Events on April 29
Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions
The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...
Dan Bin takes action, building a position in Circle
If Web3 only stays at the level of price and narrative, traditional capital will find it difficult to truly enter; but once a group of companies that can be clearly explained and included in balance sheets begins to emerge, the way the industry participates will change.
The Impossible Triangle of DeFi Lending
Borrowers want fixed interest rates, while lenders seek immediate liquidity; this is the dilemma of on-chain lending, where both cannot be achieved simultaneously.
Bitcoin ETF News: Why Bitcoin Is Falling Even After $2.43B ETF Inflows in April
Bitcoin ETF news today shows $2.43B in April inflows as institutions absorbed thousands of BTC, yet the price dropped from $79K to $76K. Traders are now watching whether the $80K resistance breaks or triggers another pullback.
What Is RWA in Crypto? Real-World Assets Explained (2026 Guide)
What Is RWA in Crypto?RWA stands for Real-World Assets — traditional financial assets like bonds, real estate, gold, and private credit that have been converted into blockchain tokens.
Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
The narrative of RWA is not about traditional finance trying to capture crypto users, but rather crypto trying to capture traditional users.
Altcoin Price Outlook 2026: The Rotation Is Coming — Just Not the Way You Think
Bitcoin dominance at 58%, Fear & Greed at 39. If you think altcoin season is dead, you're reading the wrong signals. Here's what the data actually says about what comes next.
Oracle: The Second Battlefield Behind the Prediction Market War
By 2026, the oracle track has essentially evolved from the early "data pipeline" into a "verifiable facts layer" that supports the entire on-chain economy, and prediction markets serve as a magnifying glass to observe the competition in this red ocean.
a16z's key bet: Kalshi's weekly trading volume approaches $3 billion, transitioning from "prediction games" to financial infrastructure, the market begins to price "uncertainty."
The evolution of prediction markets: from niche products to "uncertainty pricing" infrastructure
Morning Report | Galaxy Digital announces Q1 2026 financial report; Liquid completes $18 million Series A financing; Polymarket plans to bring major exchanges to the U.S
Overview of Important Market Events on April 28
From a banned economist to the new CEO of Xinhua: Fu Peng has figured out the second half of traffic
This uproar in the crypto circle appears to be a cultural conflict between a traditional economist and a crypto OG, but looking deeper, it is merely the new fire leveraging Fu Peng's influence in the traditional financial sector to pry open a batch of client funds that were originally difficult to r...
Why Private Credit Became the First True Bridge from TradFi to DeFi
Unveiling the core logic of private credit leading RWA: it is no longer just simple tokenization, but rather a true reshaping of the practical value of asset on-chain through real returns and deep integration with the DeFi ecosystem.
Senior cryptocurrency investor: Blockchain is showing a siphoning effect on capital
Stablecoins are the first real-world assets on the blockchain, but they will not be the last. Every billion dollars in stablecoins generates $12.2 billion in economic activity and $19 million in protocol revenue annually; once capital is on the blockchain, it gains productivity and does not go back.
When traditional crypto derivatives start to subtract: Insights from Hyper Trade's products
Say goodbye to complex contracts, as crypto derivatives begin to "subtract": This article breaks down how Hyper Trade reduces hardcore risk pricing into "second-level multiple-choice questions," reshaping the trading experience for retail investors.
My view on blockchain has changed
In-depth Reflection on the Value of Blockchain Applications and the Time Dimension
Where will South Korea's cryptocurrency taxation head?
There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...
Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats
"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."
Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing
Overview of Important Market Events on April 29
Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions
The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...
Dan Bin takes action, building a position in Circle
If Web3 only stays at the level of price and narrative, traditional capital will find it difficult to truly enter; but once a group of companies that can be clearly explained and included in balance sheets begins to emerge, the way the industry participates will change.
The Impossible Triangle of DeFi Lending
Borrowers want fixed interest rates, while lenders seek immediate liquidity; this is the dilemma of on-chain lending, where both cannot be achieved simultaneously.
Popular coins
Latest Crypto News
Read more
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com