Following the hacking of TRON DAO's official Twitter account, founder Justin Sun called on exchange OKX to freeze stolen funds. Despite the incident, TRX continues to rise.
Twitter Account Hack of TRON DAO
On May 2, TRON DAO's Twitter account was hijacked, prompting an immediate response from founder Justin Sun. The attackers used the compromised account to promote a fraudulent contract aimed at deceiving users. Sun quickly responded, urging exchange OKX to freeze funds linked to the scam.
TRX Price Surge Following the Hack
Despite the hack, TRX surged nearly 12% due to a bullish breakout from an ascending triangle on the 4-hour chart. Technical indicators and rising volume confirm strong bullish momentum for TRX, building support above the key $0.25 level.
Breakout Strength Confirmation
Trading volume also surged alongside the breakout, confirming genuine buying interest. This move validated the ascending triangle pattern as price met the projected target range. Previous resistance at $0.25 may now act as fresh support.
Thus, despite the recent security incident, TRX shows a sustained bullish trend in the market, triggering positive expectations among investors.
