Dubai Court Freezes $456M Linked to Justin Sun’s Bailout of TrueUSD Issuer Techteryx

Dubai’s Digital Economy Court has ordered a worldwide freeze on $456 million linked to Justin Sun’s financial assistance to Techteryx, the issuer of the TrueUSD stablecoin, due to evidence of a breach of trust. The dispute revolves around claims that TrueUSD’s reserves were improperly used to fund Aria Commodities DMCC, a trade-finance firm. Techteryx argues that this misallocation transformed cash reserves into long-term loans, rendering them inaccessible when token holders requested withdrawals. Justice Michael Black found merit in Techteryx’s claims, highlighting the risk of asset manipulation by Aria's control, Matthew William Brittain. This case marks the first global asset freezing order from Dubai’s Digital Economy Court, emphasizing regulatory scrutiny in the cryptocurrency space.

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