Dubai court freezes $456M tied to Justin Sun’s TrueUSD bailout: CoinDesk
Crypto Briefing
A Dubai court froze $456 million in assets linked to Justin Sun's TrueUSD bailout over alleged reserve misuse.Summary
Dubai's Digital Economy Court issued its first global asset freeze, targeting $456 million in funds allegedly moved from TrueUSD's reserves to Aria Commodities DMCC, a firm linked to Matthew Brittain. The transfer occurred between 2021 and 2022 via accounts managed by Hong Kong trustee First Digital Trust. TrueUSD issuer Techteryx argued the funds were used for illiquid investments like commodity shipments and private lending, rendering them unavailable during redemption surges. Justice Michael Black KC granted the freeze, citing a credible case presented by Techteryx and the risk that Brittain might restructure assets to avoid future judgments.
(Source：Crypto Briefing)