Tron founder Justin Sun is renewing his accusations against the first digital trust (FDT), claiming the firm to move $ 500 million in customer funds to banks in Dubai.
In a post of May 3 at X, the Sun claimed that the money had spread to many institutions, including the Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank (ADIB), and EFG.
Tron Founder urges Dubai to investigate FDT
Sun also named some individuals who believe he is involved in allowing or facilitating transfers. These include Christian Alexander Boehnke, de Lorraine Elboef, FDT CEO Vincent Chok, Yai SukonThabhund, Matthew William Britain, and Cecilia Teresa Britain.
According to him, these individuals have performed executive duties in FDT and related creatures, saying they have been given the authority and access to the necessary customer ownership.
Sun accusations came as Dubai positioned itself as a global center for crypto change. In recent years, authorities have introduced several pro-crypto initiatives that have drawn international attention and investment.
Against this backdrop, Sun urged local banks, regulators, and government bodies to take immediate measures to investigate transfers and freeze any weakening -suspected flow.
He also pushed internal audits, public disclosure of any anomalies, and active cooperation from institutions involved.
“Again I encourage the Dubai government, regulators, and banks to act fast and decisive. Dubai should not be a safe shelter for fraud and money losses. Banks must conduct internal reviews, immediately reflect the weak -flowing, and report them actively. Nakasa said.
These accusations add to a growing dispute between the Hong Kong -based custodian.
Last month, he compared the alleged FDT losses to the FTX scandal, called it “worse” as it was not involved in a collateral structure of a loan or user approvement.
The Sun has launched a $ 50 million bounty program to support investigations, uncover additional details, and perform responsible responsibilities. He also launched a dedicated website to expose the alleged scam.
The FDT denied all the accusations and filed a lawsuit against the Sun. Meanwhile, Hong Kong regulators have begun to evaluate the behavior of local confidence companies.
Since the start of the dispute, the Capitalization of the FDUS FDUSD Stablecoin market has fallen. According to Beincrypto data, Stablecoin market cap dropped from more than $ 2.5 billion to $ 1.4 billion as a press time.
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