Dubai Court Freezes $456 Million in Assets Related to Justin Sun
According to reports, the Dubai Digital Economy Court issued a global asset freeze order related to the $456 million funding provided to Techteryx, the issuer of the stablecoin TrueUSD, associated with Justin Sun. The case focuses on whether the reserve funds of TrueUSD were illegally transferred to Aria Commodities DMCC in Dubai for investments in commodities, mining, and other illiquid projects. The court ruled that Techteryx's claim of credible trust misappropriation was valid, pointing out that Aria failed to provide evidence of the flow of funds and asset ownership, posing a risk of asset transfer.