My people! Attention, crypto friends! The situation with Wrapped Bitcoin (WBTC) on the TRON blockchain is more mysterious than a Venezuelan soap opera. 🤫 It seems that this thing, which promised to be the hit of the summer, has been deflating without anyone saying 'this mouth is mine'! 😱
Do you remember that last year, in August, the one and only Justin Sun (the father of TRON) and BiT Global announced with great fanfare that they were going to boost WBTC in the TRON ecosystem? They even said that TRON was the most important blockchain for having the largest amount of USDT circulating! 💰 But here comes the gossip: there was already a WBTC on TRON since 2021, but nobody was using it! Only about 100 Bitcoins (BTC) had been moved around there. 🤷♂️
After all the commotion and with Sun's entry, Wrapped Bitcoin did something very strange: they removed the WBTC panel on TRON from their website! It’s as if they suddenly didn’t want people to know who they were associated with or, more seriously, where they were keeping the BTC that supposedly backed this crypto! A serious matter! 😨
And it doesn't stop there. Recently, TRONSCAN, which is like the official gossip of the TRON network, no longer shows the WBTC analysis on TRON as before! It’s as if they had erased it from the map. 🗺️ When checking the smart contract of WBTC on TRON, the last time a token was transferred was more than two months ago, on April 15! This is slower than a sleepy turtle! 🐢 And although the contract still shows about 100 BTC, the activity is zero.
Neither BitGo, nor BiT Global, nor Wrapped Bitcoin, nor the very Justin Sun have revealed anything about these changes. But the movements on TRONSCAN and in the Wrapped Bitcoin website suggest that they are downplaying this product. It’s like when something doesn’t work, they hide it under the carpet! 🙈
This looks a bit like other wrapped BTC products that Sun offers with his platform Poloniex, where they also don't reveal where they store the BTC that back them up. The lack of transparency is a giant red flag! 🚩
Protos tried to talk to BitGo, BiT Global, and Wrapped Bitcoin to clarify this mystery, but no one responded! It’s like they have disappeared. 🤷♀️
So, my people, the million-dollar question is: What is really happening with WBTC on TRON? Did the earth swallow it or is there something more shady behind this disappearance? Stay alert and keep investigating, because there’s something fishy going on! 🕵️♀️$BTC $WBTC $TRX
