Justin Sun has intensified his global campaign to recover the missing $456 million in TUSD reserves, following a major legal breakthrough secured through the Dubai International Financial Centre (DIFC) Court. In a Hong Kong media briefing titled “Truth Unveiled, Justice Revealed,” Sun announced that the case has now entered a more aggressive enforcement phase.
The DIFC Court issued an indefinite worldwide asset freeze on Aria Commodities DMCC and related entities on October 17. This marks the first global freeze in the ongoing dispute and blocks any movement of funds connected to the alleged fraud. The ruling applies across multiple jurisdictions, strengthening Sun’s efforts to trace and recover the missing reserves.
Sun expressed strong confidence in the ruling, calling it “fair and resolute,” adding that his team is tracing reserve assets across international markets. “Justice may be delayed, but it will never be denied,” he said, reinforcing that “full recovery and restitution” remain the top priority.
Investigations Expand Across Hong Kong, Dubai, Cayman Islands
With the freeze order now active, the case is entering a new phase of legal action. Authorities across Hong Kong, Dubai, the Cayman Islands, and other regions are expected to escalate investigations. Sun stated that additional evidence and recovery steps are already underway, with ongoing probes targeting individuals, including Vincent Chok, Matthew Brittain, and former TrueCoin executives.
How the $456 Million Went Missing
The dispute dates back to 2020 after Techteryx acquired TUSD. TrueCoin, the token’s original operator, continued managing reserves. However, investigations show that TrueCoin, First Digital Trust (FDT), Legacy Trust, and offshore entities tied to Matthew Brittain allegedly fabricated documents, submitted misleading filings, and moved funds out of regulated custody.
The diverted reserves were reportedly transferred to bank accounts connected to Aria DMCC, a Dubai firm owned by Brittain’s spouse. Evidence suggests that FDT CEO Vincent Chok approved and facilitated these transfers, allegedly receiving kickbacks. The U.S. SEC later accused TrueCoin of misleading investors about TUSD’s reserves, exposing deeper operational misconduct.
Sun’s Role in Preventing TUSD Collapse
Despite the controversy, TUSD has maintained near-dollar stability largely due to Justin Sun’s support. As previously reported by Cryptopolitan, Sun issued a significant loan of around $450 million to stabilize Techteryx and prevent disruption for holders.
FDT has denied Sun’s accusations, with Chok stating there is no evidence to support the claims and signaling intent to pursue legal action. Sun, however, remains firm and prepared for a multi-jurisdictional legal fight, framing his efforts as protection for the broader crypto ecosystem.