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tusd

The media briefing on the global judicial pursuit of TUSD reserve assets was held in Hong Kong, Sun Yuchen: We are currently recovering missing funds worldwide

The founder of TRON, Justin Sun, attended the media briefing titled "Truth Revealed, Justice Demonstrated ------ Progress of Global Judicial Pursuit of TUSD Reserve Assets" held at the Peninsula Hotel in Hong Kong, where he disclosed key facts and interim results regarding the illegal occupation and misappropriation of TUSD reserves, attracting significant attention from the fintech and blockchain industries. Justin Sun expressed his heartfelt gratitude to the Dubai International Financial Centre Courts (DIFC Court) and its Digital Economy Court for making a fair and decisive ruling, and stated that efforts are actively underway globally to trace the whereabouts of the missing funds, with the goal of fully recovering them and demanding that any wrongdoers return the corresponding reserve assets.According to the latest judicial documents, the DIFC Courts issued an indefinite global asset freeze order against Aria Commodities DMCC on October 17, involving an amount as high as $456 million. The court pointed out that the funds in question "involve significant matters that require trial," including forgery of authorization, breach of trust obligations, illegal transfer of reserves, and cross-border money laundering. All relevant individuals and entities are required to fully disclose the flow of funds, or they will face severe legal consequences.

TUSD issuer's rights protection has made significant judicial progress, Sun Yuchen: Thank you to the Dubai Digital Economy Court for the ruling

The founder of TRON, Justin Sun, responded on the X platform to the ruling of the Dubai Digital Economy Court, expressing gratitude for the court's issuance of a freezing order to protect the rights of TUSD holders for the first time globally. He wrote in a tweet: "Justice may be delayed, but it will never be absent."The freezing order involves $456 million in funds related to Justin Sun's rescue of TrueUSD issuer Techteryx. The Dubai Digital Economy Court noted in its ruling that there are "serious issues that need to be examined" regarding Techteryx and determined that the funds in question should be held in trust to prevent improper transfer or concealment of assets. The funds have been controversial due to issues with TrueUSD's reserve shortfall, involving the Dubai trade financing company Aria Commodities DMCC.The incident dates back to between 2021 and 2022, when part of TrueUSD's reserve funds flowed into Aria through the Hong Kong trustee First Digital Trust (FDT). Techteryx alleged that these transfers violated custodial terms, converting the original cash reserves into long-term loans and private transactions. Justin Sun held a press conference in Hong Kong in April 2025, accusing financial institutions including First Digital Trust Limited (FDT) and Legacy Trust Company Limited (Legacy Trust), as well as a private company in Dubai, of illegally misappropriating $456 million in fiat reserves for TUSD.
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