LongHash Report Shows Trdot Wallet’s Address Balance Fell 99% in Two Days, Down 1.2 Billion TRX
In a recent report released by LongHash, Trdot Wallet’s address balance fell by 99% in just two days. The wallet has reached $775 million TRX back on February 13. This is a cryptocurrency wallet that claims to have been supported and created by Tron.
Trdot Wallet Address Balance Sharply Falls
According to the report released by LongHash, the Trdot Wallet has reached a maximum capacity of 1.2 billion TRX on February 4, 2019. After it, the funds dropped down to 700 million TRX.
LongHash reports that the TRX balances in the wallets started to decrease on March 18. Then the TRX balance dropped from 685 million TRX down to 2 million TRX.
About it, the report explained:
“The TRX balance of the address dropped from 685 million TRX to approximately 2 million TRX in two days. That’s a total withdrawal of USD$ 15 million based on the current TRX price.”
At the same time, the 2 million TRX withdrawn split into 10 different wallets that held around 68 million TRX each. Only one had over 39 million TRX.
There are some users on social networks that are starting to believe that the wallet is a scam and a Ponzi scheme. This is what Dovey Wan, founding partner at Primitive, believes. She wrote on Twitter that the TrDot wallet has been super popular among tier ¾ cities in China. Additionally, she said that the recent TRX price surge seems to have an explanation.
This TronWallet or TrDot Wallet has been super popular among tier 3/4 cities in China recently, which is a pure ponzi 👀👀👀
— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) January 11, 2019
Tron is one of the most popular blockchain networks in the market. Its digital asset TRX is the 11th largest with a market capitalization of $1.56 billion. Each TRX coin can be purchased for $0.0233.