Right, so Justin Sun—yes, *that* Justin Sun, the Tron founder who’s always in the middle of some crypto kerfuffle—has decided to take to X (formerly Twitter, but let’s not get into that) to accuse First Digital Trust (FDT) of embezzling a cool $500 million. 🤑 Because, of course, why not? It’s not like crypto isn’t already a soap opera.
In a post so long it could rival War and Peace (but with fewer Russians and more blockchain jargon), Sun claims FDT and its alleged accomplices—Aria DMCC, Finaport, and TrueCoin—pulled off a heist so elaborate it could be a Netflix series. 🎬 Apparently, they redirected $456 million of client funds through a web of unauthorized investments and fraudulent address changes. Classic crypto shenanigans, really.
Sun alleges the funds were supposed to go to the Aria Commodity Finance Fund in the Cayman Islands (because where else would you stash half a billion dollars? 🌴) but instead ended up in an entity controlled by Cecilia Brittain, wife of ACFF manager Matthew Brittain. Because nothing says “legitimate investment” like a good old-fashioned family affair. 👨👩👧👦
“This is exactly the same as an address replacement attack in crypto,” Sun wrote, comparing the scheme to blockchain fraud. 🕵️♂️ He also named names, including FDT CEO Vincent Chok and Aria’s Alex De Lorraine, accusing them of pocketing millions in kickbacks. Because who doesn’t love a good scandal with a side of alleged corruption? 💰
To top it off, Sun claims the transaction was later labeled as a “fund subscription” to make it look legit. And, oh, $15.5 million of the misused funds allegedly ended up in a Hong Kong account named “Glass Door.” 🚪 Because nothing screams “trustworthy” like a bank account named after a Miley Cyrus song. 🎶
Defamation Lawsuit: Because Drama Needs a Sequel
Not one to take accusations lying down, FDT hit back with a defamation lawsuit, accusing Sun of spreading false claims about its financial health. 🚨 The lawsuit, filed in Hong Kong’s High Court, demands an injunction, retractions, and damages. Because when life gives you lemons, sue the guy accusing you of embezzlement. 🍋
Sun’s initial accusations briefly caused FDT’s FDUSD stablecoin to depeg, but it’s since recovered. Because in crypto, even the most dramatic moments are fleeting. ⏳
Despite the lawsuit, Sun is doubling down, holding a press conference and calling for regulators to investigate Hong Kong’s trust sector. A court hearing date hasn’t been set yet, but you can bet this saga is far from over. 🍿
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2025-04-10 19:52