Justin SUN takes over legal action against FDUSD issuer

The Founder of the Tron Justin Sun has launched legal proceedings against the first digital trust, the issuer behind the FDUSD Stablecoin, accusing it in the embezzlement of almost $ 500 million of client’s funds.

At 3. April in X in KS, Sun said to meet Hong Kong Lavmaker Johnny Vu ​​to report the case and submitted related material to local regulators and judicial authorities. Alleged embezzlement centers on the FDT’s handling of the client’s assets, which the protection has been taken.

SUN described the incident as a “main international financial fraud that includes traditional financial institutions and Web3 platforms” and said it was time to export as “holes in the trust industry” exploit.

On the same day, Sun hosted live podcast to further reveal what he called serious irregularities, warning that the FDT was effective unsolvent and still operates under the lid of public trust.

Johnny Vu ​​publicly solved the case, confirming that he met with the complainant and raised the issue in the legislative council. “If they cite accurate, implementation organs will definitely take measures,” he said. NG emphasized the strong legal system of Hong Kong, stating “, international investors should not take care of one incident.”

The sun’s charges, which started 2. April, the first digital USD) caused the firstFdusd) To lose your dollar and only 0.87 dollars go down. StableCoin has since stabilized, $ 0.99 is traded in time of pressure. In response to Sun, the FDT denied all claims and said FDUSD remains fully supported 1: 1 cash and American state records.

FDT discarded Solar’s claims as “false information” and “spotting campaign”. The company warned that he would take legal action to defend his name and the accused sun wider false information. Binance, which has most of the FDUSD offer, confirmed StableCoin’s 1: 1 is supported in the update. His latest confirmation showed 2.05 billion dollars of reserves at 1. March.