news 
Justin Sun’s TRON Upgrade Sends TRX Price Soaring Despite Twitter Hack
On May 3, 2025, a shocking turn of events unfolded in the cryptocurrency world. The sudden price surge of TRX, coupled with a major security breach, has left many speculating about the future trajectory of this project.
The story begins with Justin Sun’s revelation of an imminent upgrade to the TRON ecosystem. This upgrade sent shockwaves throughout the market, as investors and traders scrambled to capitalize on what they saw as a lucrative opportunity. In a matter of minutes, TRX prices skyrocketed by 7.2%, rising from $0.122 to $0.130.
This monumental price increase was accompanied by an unprecedented surge in trading volume, with over 43% of the total daily volume being processed through exchanges like Binance, OKX, and KuCoin. The impact of this upgrade is further underscored by on-chain data provided by TronScan, which revealed a staggering 15% jump in transaction volume, eclipsing the 5.8 million mark by 1:00 PM UTC.
While the excitement surrounding TRON’s upgrade was palpable, an unfortunate event occurred simultaneously. The official TRON DAO Twitter account fell victim to a hack, with scammers exploiting this vulnerability to steal funds from unsuspecting users. In a swift response, Justin Sun took immediate action to address the crisis. He contacted OKX and urged them to freeze any assets linked to the scam, emphasizing the importance of swift and responsible actions to prevent further exploitation.
As if this weren’t enough, Justin Sun didn’t stop there. He also actively engaged law enforcement agencies in a collaborative effort to trace and recover the stolen funds. He addressed the scammers directly, encouraging them to return the funds and promising to redistribute any recovered assets back to the community, stating “To the scammers involved: we strongly urge you to return the stolen funds immediately.”
The hack, which has been attributed to two specific transaction hashes, necessitates a thorough investigation to track down the perpetrators. The situation underscores the ongoing security risks that plague the crypto space and highlights the need for sustained vigilance in this regard.
In conclusion, Justin Sun’s leadership will undoubtedly face scrutiny as the fallout from these events unfolds. However, TRON’s prompt response to the hack demonstrates a commitment to safeguarding its user base. It is crucial that TRON strikes a balance between driving innovation and prioritizing security going forward.
The question remains: Will TRON be able to overcome the challenges presented by this breach and continue to thrive in an increasingly competitive market?
Source: https://coinpedia.org/news/justin-suns-tron-upgrade-sends-trx-price-soaring-despite-twitter-hack/
