Fresh allegations have emerged involving Justin Sun, founder of TRON, after a former partner accused him of large-scale market manipulation during the 2017–2018 crypto cycle.
Zeng Ying, also known as Tenten, a Chinese media professional, claims she was romantically involved with Sun during TRX’s early development. In a public statement, she alleges that Sun coordinated trading activity to artificially inflate TRX’s price.
According to Zeng, Sun allegedly used the identities and devices of employees to create multiple Binance accounts. She claims these accounts were used to buy and sell TRX in a coordinated manner to push prices higher, before selling heavily near market peaks, leaving retail investors exposed.
Zeng says she holds supporting evidence, including WeChat chat records and testimony from individuals she identifies as former employees. She has stated that she intends to submit all materials to the U.S. Securities and Exchange Commission and cooperate fully with any investigation.
She further alleges that these trading practices were the primary source of Sun’s personal wealth, rather than organic adoption or legitimate business growth.
Zeng describes her decision to come forward as both professional and personal, citing a painful breakup and what she characterizes as unfair treatment following the end of their relationship.
Beyond trading allegations, she also raises questions about Sun’s political connections, publicly challenging his alleged ties to Trump-related entities. These claims have not been independently verified.
“I am not making empty accusations,” Zeng wrote, adding that only a small portion of the evidence has been made public so far.
At this time, the allegations remain unproven. No regulatory findings have been announced, and Justin Sun has not publicly responded to these specific claims. Whether regulators pursue formal action—and what the outcome may be—remains to be seen.