60,000 BTC on the TRON blockchain may not be backed by actual assets, accounting for 50% of the TVL on the JustLend platform

ChainCatcher news, well-known crypto KOL @ErgoBTC posted on social media that there are 60,000 TRC-20 BTC on the TRON network that seem to have never been backed by actual assets. These potentially uncollateralized BTC are currently stored in the JustLend protocol, which means the uncollateralized TVL has reached $1.8 billion, accounting for about 50% of JustLend's current TVL.

@ErgoBTC added that compared to WBTC, BTC on the TRON network (TRC-20 BTC) can be said to have no transparency at all, and the custodian information is basically untraceable. After manual investigation, it is also impossible to clearly identify the supporting asset addresses for a total of 114,000 TRC-20 BTC on the TRON network from the Bitcoin blockchain. (Source link)