The strongest scammer in the crypto circle——Justin Sun's rise and harvesting history
Justin Sun, born in 1990 in Qinghai, moved with his parents to Huizhou, Guangdong at the age of 4. From “poor student rising to Peking University” to “the strongest harvesting machine in the crypto circle,” every step he took was full of controversy and tricks.
1. From poor student to Peking University, relying not on grades but on “operations”
- Entered Peking University at 17 through the “New Concept Writing Competition”:
In 2007, Justin Sun participated in the 9th New Concept Writing Competition, winning first prize with an essay (My Youth, I Decide) and successfully obtaining **a lower admission score for Peking University** (the admission line for liberal arts at Peking University was about 620 points that year, and he scored about 580 points).
- The hidden tricks of being “first in grades” in the history department of Peking University:
During his time at Peking University, his grades were not outstanding, but through **choosing easy courses and boosting GPA**, he ranked first in the history department and successfully applied for a master's degree at **the University of Pennsylvania (UPenn)**.
2. Became wealthy through Bitcoin, discovering that “scamming investors” is the ultimate wealth secret
- In 2013, he became wealthy by trading coins with his living expenses:
During his time studying in the US, he invested his living expenses in Bitcoin, just in time for the 2013 bull market, and his assets multiplied dozens of times, from then on he believed that **“issuing coins is more profitable than trading coins”**.
- Returned to China in 2015 to start a business, deceiving big shots into investing:
After returning to China, he founded “RuiBo Technology” (the Chinese version of Ripple), claiming to do “decentralized finance,” successfully deceiving **IDG Capital, ZhenFund**, and other institutions to invest tens of millions of dollars.
- In 2017, he enrolled at Lakewood University, claiming to be “Jack Ma's first disciple”:
Although Jack Ma has never admitted it, he frequently packages himself as a “first batch student of Lakewood University” to deceive more people into investing in his projects.
3. Tron ICO scammed 400 million, cashed out and ran to the US
- In September 2017, Tron (TRX) raised 4 billion through ICO:
The white paper was exposed for plagiarism from Ethereum, but through crazy marketing (including inviting big shots from the crypto circle), successfully raised **$400 million** (later some coins were refunded due to Chinese regulatory policies).
- In January 2018, TRX was listed on exchanges, and Justin Sun cashed out at high prices:
TRX price skyrocketed from $0.01 to $0.25, and Justin Sun sold hundreds of millions at the peak, causing the price to plummet **90%**, leaving countless retail investors with losses.
- Fled to the US to evade regulation:
After 2019, he has long resided in the US and Singapore to avoid being investigated by Chinese regulatory authorities.
4. Crazy hype: comparing to Buffett, comparing to Bezos, spending astronomical amounts on art
- In 2019, spent $4.56 million for lunch with Buffett, then canceled due to “kidney stones”:
After a month of high-profile promotion, he finally canceled due to “sudden kidney stones,” which was questioned as **a self-directed marketing event**.
- In 2021, he canceled his space travel with Bezos:
He spent $28 million to buy a seat on Blue Origin's spaceship, but canceled just before the trip due to “schedule conflicts,” leaving Bezos speechless.
- Crazy buying of art, hyping NFTs:
- Spent $78 million to buy Alberto Giacometti's sculpture (Nose)
- Purchased Picasso's famous painting (Naked Woman Lying with Necklace) for $120 million
- Spent $10.5 million to buy a “Bored Ape” NFT avatar
- Spent $6.24 million on an “overripe banana” art piece (that's right, just a banana taped to a wall)
These operations have been questioned as **money laundering + hype**, because the art market has low liquidity and is easy to manipulate prices.
5. Latest operation: after scamming domestically, he scammed internationally, the SEC sued him for market manipulation
- In 2023, the US SEC sued Justin Sun:
He was accused of **manipulating the TRX and BTT markets**, using “left hand trading to right hand” to falsely inflate coin prices and **defrauding investors**.
- Huobi exchange (HT) acquisition case, another wave of scamming:
After he became a global advisor for Huobi in 2022, the HT token plummeted 80%, accused of “harvesting the last wave of investors.”
### Summary: Justin Sun's Methodology for “Scamming Investors”
1. Crazy marketing (Buffett lunch, space travel, astronomical art prices)
2. Issuing coins and pumping prices (Tron TRX, BTT, JUST, etc.)
3. Cashing out at high prices (team unlocks and then crashes the market)
4. Evading regulation (couldn't survive in both China and the US, moved to smaller countries)
He is undoubtedly deserving of the title of “the strongest scammer in the crypto circle”! 🍌 (After all, the man who spent $6 million on bananas) #加密市场回调 #孙割
