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Ousted CTO Not A Cofounder, Tron (TRX) Says He Was Suspected Of Fund Embezzlement


Ousted CTO Not A Cofounder, Tron (TRX) Says He Was Suspected Of Fund Embezzlement

  • CTO Chen did not resign, he was sacked with two others over suspected fraud issues
  • Necessary scandal documents handed over to the judicial authorities

The team behind Tron (TRX) blockchain technology has passed on comments to suppress the rousing pressure in its community, which was caused by a disrupting news regarding the departure of the blockchain’s CTO, Lucien Chen.

Yesterday, Today’s Gazette reported the resignation of the CTO who claims to be the co-founder of TRON (TRX). Chen, according to the report claimed he departed Tron due to the network’s lack of decentralization, and he has chosen a path to create a “new TRON” in order to pay tribute to his word.

Also Read: Tron (TRX) Exceeds Bitcoin’s 10 Years Transaction In 319 Days, Network’s Smart Contracts Hits 900

The former CTO, who has now invented Volume Network (VOL), said the present project is just a mere a fabrication of the original TRON, and it has been developed into fiscal tool without any decentralization spirit.

 “The spirit of the blockchain is decentralized, while TRON project is centralized. Token distribution is centralized, Super Representatives are centralized, code development is centralized”, Chen continued.  “Even the community is organized under centralization. No diverse voices in TRON ecosystem”.

Chen did Not Resigned, He was Dismissed Over Competitive Infringement & Theft of Trade

The body behind the eminent decentralized blockchain technology, Tron foundation, has took to Reddit to satisfy its lovers who yen for an official response to Lucien Chen’s resignation statement.

In the first place, Tron foundation clarified that former employee Chen and two others – J. Zhu and X. Xie, did not resign but were rather fired in January, 2019.

The inspection department at TRON made known that the three were dismissed over illicit acts which boarder on “suspected misappropriation of funds, bribery, competitive infringement, and theft of trade secrets and intellectual property”.


Tron foundation added that the three culprits violated the corporate policies and laws of the organization, therefore, necessary documents and materials regarding the scandal have been handed over to the judiciary.

Chen joined TRON as a technical leader and not as a co-founder, the report added.

He his a content writer, holds an Analyst sit at Kloy GIS • Be a venture capitalist one day. 

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