Revisiting old accounts! Will the 2017 'market crash drama' repeat? Can Sun Yuchen wash this away this time?
Back in 2017, Sun Yuchen was involved in a similar controversy. At that time, he and Martian Xu Zijing exchanged tokens for their respective projects TRX and HSR (later renamed HC), seemingly on good terms, but Sun Yuchen crashed HSR that very night. The next day, Martian was furious at the plummeting price and declared he would 'deal with' him, while Sun Yuchen retorted on Weibo, calling Martian a 'gangster'. Although there were numerous interests entangled behind the scenes, Sun Yuchen's crash of HSR was undoubtedly the catalyst for the conflict, which caused quite a stir back then, and Sun Yuchen even called the police.
The image that all the old investors are familiar with is a snapshot of the 2017 ICO era, and the figure lying on the ground represents Sun Yuchen.
Now this matter has resurfaced, and recently many have been 'cleaning the slate' for Sun Yuchen, claiming that the crash was caused by someone else; Sun Yuchen himself also defended the '20% high interest rate' issue on X. However, his response is quite subtle; it seems to distance himself from the situation, yet he has never directly answered whether he used users' coins to crash the market. More importantly, the articles defending him repeatedly emphasize that the on-chain transfer records all come from his own WLFI address, while the public's initial concern was whether he misused HTX users' deposited coins to crash the market—this is clearly shifting the focus of the conflict.
As I mentioned before in the square: on-chain addresses can indeed be traced, but centralized exchanges (CEX) function like 'manual mixers', and the specific operations of assets entering and exiting cannot be verified. Unless Sun Yuchen voluntarily discloses the internal wallet data of HTX, all his defenses are untenable.
Moreover, if Eric Trump had no reasonable basis, how could he arbitrarily freeze Sun Yuchen's wallet address? If Sun Yuchen really hadn't crashed the market, why rush to claim he would buy tens of millions of dollars' worth of WLFI?
#WIFL