justinsun

TRON founder Justin Sun held a press conference in Hong Kong titled “Truth Revealed, Justice Restored,” where he shared new details on the ongoing effort to recover $456 million allegedly missing from the reserves of the TUSD stablecoin.
The update comes shortly after the Dubai International Financial Centre (DIFC) Court issued a global asset-freezing order against Aria Commodities DMCC and several related entities. This marks the first worldwide freeze in the case and represents a major turning point in the legal proceedings.

Justin Sun: “Justice may be delayed, but it will never be denied”
The DIFC decision from October 17 blocks all movement of disputed funds across jurisdictions. Sun described the ruling as a clear message that international courts are taking the case seriously and stated that the missing assets are now being actively traced worldwide.
He emphasized that the main priority is the full recovery and restitution of TUSD reserves, which he claims were gradually moved out of regulated custodial structures. The investigation is accelerating, and more evidence is expected as authorities probe individuals such as Vincent Chok, Matthew Brittain, and former TrueCoin executives.
With the global freeze now in effect, the case is entering a new phase that will likely involve increased legal action in Hong Kong, Dubai, the Cayman Islands, and other relevant regions.

How $456 Million Disappeared
The origins of the case date back to 2020, when Techteryx acquired TUSD while TrueCoin continued to oversee its reserves. According to available information, TrueCoin, First Digital Trust (FDT), Legacy Trust, and offshore entities linked to Matthew Brittain allegedly collaborated in the following years to fabricate documents, file misleading statements, and transfer funds out of regulated custody.
A portion of the reserves was reportedly moved to bank accounts connected to Aria DMCC, a Dubai-based company owned by Brittain’s wife. FDT CEO Vincent Chok is alleged to have approved these transfers in exchange for private commissions.
The U.S. Securities and Exchange Commission later charged TrueCoin with misleading investors about the security of TUSD reserves, exposing deeper operational issues and weaknesses that allowed hundreds of millions to be diverted.

TUSD Remained Stable Thanks to Sun’s Intervention
Despite the controversy, TUSD has maintained its peg near $1. Sun played a major role in stabilizing the asset by supporting TUSD holders and providing Techteryx with a loan of approximately $450 million.
Earlier this year, Sun accused FDT and associated individuals of misappropriating funds and argued that their actions threatened the stability of the stablecoin. FDT denied the allegations, and CEO Vincent Chok stated that Sun’s claims lacked evidence while announcing plans for legal action against him.

The Battle Moves Into Its Next Phase
Although both sides continue to trade accusations, Sun remains firm in his commitment to pursue legal action. He frames his involvement as an effort to protect the broader crypto ecosystem and insists that the ultimate outcome will include not only the recovery of the missing $456 million but also a broader crackdown on corruption and malpractice within digital asset management.

#JustinSun , #Stablecoins , #CryptoNews , #Tron , #DigitalAssets

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