The post Shocking Crypto Claims: Justin Sun Exposes $500M Embezzlement at FDT! appeared on BitcoinEthereumNews.com.

Hold onto your hats, crypto enthusiasts! The always-dynamic world of digital currencies has just been rocked by some explosive allegations. Justin Sun, the well-known founder of Tron (TRX), has ignited a firestorm by publicly claiming a staggering $500 million embezzlement has occurred at First Digital Trust (FDT). This Hong Kong-based cryptocurrency custodian and issuer of FDUSD is now at the center of a swirling controversy, with Sun pointing fingers and FDT firing back with legal action. Let’s dive into the details of this unfolding saga and explore what it could mean for the crypto landscape. Justin Sun Accuses FDT of Massive Embezzlement In a series of posts on X (formerly Twitter), Justin Sun didn’t mince words. He directly accused FDT of a colossal embezzlement scheme, suggesting a network of conspirators and implicating Aria DMCC in the alleged illicit activities. But what exactly are these accusations, and why are they causing such a stir? The $500 Million Claim: Sun alleges a massive half-billion dollar embezzlement, a figure that, if true, would be a significant blow to the credibility of cryptocurrency custodians. FDT as the ‘Main Culprit’?: Sun has been vocal about his suspicions that FDT is not just involved in the embezzlement but is also the primary reason behind the recent liquidity issues surrounding TrueUSD (TUSD). Aria DMCC’s Involvement: The mention of Aria DMCC adds another layer of complexity to the accusations, hinting at potentially wider network of actors involved in the alleged scheme. Defamation Lawsuit: FDT has vehemently denied these allegations and has retaliated with a defamation lawsuit against Justin Sun, setting the stage for a potentially lengthy and public legal battle. This isn’t just another day in crypto drama; these are serious allegations that could have far-reaching consequences. The reputation of cryptocurrency custodians, the stability of stablecoins like FDUSD…

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Filed under: News - @ April 11, 2025 12:22 am