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

The $456 million reserve shortfall that forced Justin Sun to bail out the token holders of the TrueUSD stablecoin is now the subject of a worldwide freezing order upheld by Dubai’s Digital Economy Court. The dispute centers on whether funds from TrueUSD’s reserves were improperly funneled into Aria Commodities DMCC, a Dubai-based trade-finance firm that financed commodity shipments, mining projects and other illiquid ventures across emerging markets, according to the claimant's counsel. Aria, part of a g ...