Justin Sun announces a significant legal breakthrough in the TUSD 456 million reserve case.
A Dubai court has ordered a worldwide freeze related to the disputed funds.
Cross-border investigation and recovery operations are currently accelerating.
Justin Sun held a media briefing in Hong Kong today, providing the clearest update yet on ongoing efforts to recover $456 million in missing TUSD reserves.
The case just reached a major legal milestone, and Sun made sure the public heard about it directly from him.
DIFC Court issues worldwide freeze of TUSD reserve assets
Sun confirmed that the Dubai International Financial Center Court had imposed an indefinite global asset freeze on Aria Commodities DMCC, which was implicated in the embezzlement scandal. The order, issued on October 17, blocks any movement of disputed funds and applies jurisdiction-wide.
“I would like to express my sincere gratitude to the DIFC Court and its Digital Economy Court for delivering this fair and firm judgment.” Sun told reporters. “We are actively pursuing unaccounted funds around the world with the goal of complete recovery and return of all reserve assets.”
He also repeated lines like: “Justice may be delayed, but it will never be denied.”
Two hours from 2pm Hong Kong time… #Justice may be delayed but never denied. https://t.co/M56sv1Q0n4
— He, Justin Sun 👨🚀 🌞 (@justinsuntron) November 27, 2025
How did $456 million go missing?
A brief explanation of how the fraud allegedly occurred.
After Techteryx acquired TUSD in 2020, the original operator TrueCoin continued to manage the reserves. Between 2021 and 2022, TrueCoin, First Digital Trust (FDT), Legacy Trust, and offshore entities associated with Matthew Britten allegedly collaborated to create false documents, file misleading returns, and move reserves from regulated storage locations.
The funds were ultimately transferred to the bank account of Alia DMCC, a Dubai company owned by Britten’s spouse. According to publicly disclosed information, FDT CEO Vincent Chok not only approved these transfers, but also directed the funds to his personal accounts in exchange for undisclosed kickbacks.
The US SEC subsequently accused TrueCoin of misleading investors about the safety of TUSD’s reserves and exposing deeper operational issues.
what happens next
A freezing order has been issued and the case is entering a new phase. We expect legal action to increase in Hong Kong, Dubai, the Cayman Islands, and other regions as more evidence and additional recovery measures are underway.
Sun said the “full recovery and return” of TUSD’s reserves remains a priority.
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