H.E. Justin Sun 👨‍🚀 🌞 (@justinsuntron): As the founder of TRON and a passionate advocate for blockchain innovation, I've always believed in building a transparent, secure, and decentralized…

As the founder of TRON and a passionate advocate for blockchain innovation, I've always believed in building a transparent, secure, and decentralized future.  Today, I want to update you on a critical chapter in the story of TrueUSD—a stablecoin that has faced significant challenges but is now on a path to asset recovery and justice. This is a story of resilience, accountability, and the relentless pursuit of justice in our industry. Back in April this year, I held a press conference where I officially announced the rescue plan to bail out all public holders of TUSD stablecoins to cover a liquidity shortfall for approximately $500m, utilizing my personal financial resources. The liquidity problem wasn't due to poor management on TUSD operations. Rather, as Techteryx has pleaded in detail in court filings, the liquidity problem stemmed from what we discovered to be a large-scale fraud and misappropriation by a group of rogue financial fiduciaries responsible for safeguarding TUSD reserve assets, including ARIA group, First Digital Trust (FDT), Legacy Trust, Finaport, Truecoin, and key individuals involved in the fraud such as Matthew Brittain, Vincent Chok, Alex De Lorraine and Yai Sukonthabhund. After the TUSD business was acquired by Techteryx, evidence of this fraudulent scheme by Aria and these co-conspirators to steal the TUSD reserve assets through lies and deception started to emerge. For justice and accountability, Techteryx has filed lawsuits in several jurisdictions including in the Courts of Dubai International Financial Centre with detailed allegations about how members of this Aria fraud conspiracy misappropriated roughly $500m in TUSD reserves through fraud. It is clear that at the heart of the Aria global scam is a group of bad actors who betrayed their professional and fiduciary duties, siphoned off client assets, pocketed illicit kickbacks, and laundered illicit gains through a web of offshore shells. After extensive litigation in DIFC Courts, the DIFC Courts found there is a serious issue to be tried that the defendants fraudulently induced the consent of Techteryx by misrepresenting Aria Commodity Finance Fund as a low-risk vehicle focused on "short-term asset-backed trade finance" with credit insurance from reputable institutions. However, the money was not used for such purposes, but was instead diverted to Aria Commodities DMCC (“Aria DMCC”), a private company in Dubai controlled by the wife of Matthew Brittain, the mastermind of Aria’s global scam operations. As the facts come to light, the scam seems to be truly global, with financial centres of Dubai and Hong Kong at the core with funds also routed through Cayman Islands, the US, Australia, the UK, Singapore, Lichtenstein, Ukraine and Africa among other countries and regions. Subsequently, all missing funds were either laundered off or tied up in non-redeemable loans for a diverse range of dubious projects such as an unprofitable bitumen manufacturing facility in the UAE, obscure coal mining rights in Africa, crypto transactions with FTX, commodity projects in places like the US and Ukraine, unsubstantiated port infrastructure and renewable energy initiatives in Australia of little to no value. It is clear that by making fraudulent representations to disguise Aria Commodity Finance Fund as low risk and liquid (as evidenced in the US SEC complaints against Truecoin), in his capacity as a fiduciary agent for Techteryx, Alex De Lorraine aided and abetted Matthew Brittain, Vincent Chok and Yai Sukonthabhund to defraud Techteryx and siphon off nearly $500 million from TUSD’s reserve funds.