Dubai Court Freezes $456M in TrueUSD Reserve Dispute Linked to Justin Sun Bailout

Dubai’s Digital Economy Court has issued its first-ever worldwide freezing order in a high-stakes legal battle involving a $456 million TrueUSD (TUSD) reserve shortfall. The dispute, which forced Tron founder Justin Sun to step in and support token holders, revolves around allegations that TUSD reserve funds were misused to finance risky ventures through Aria Commodities DMCC, a Dubai-based trade-finance firm.

According to the claimant Techteryx, the owner of TrueUSD, funds meant to back the stablecoin were allegedly diverted into Aria Commodities’ operations, including commodity shipments and mining projects in emerging markets. The transactions reportedly occurred in 2021 and 2022 via accounts managed by First Digital Trust, a Hong Kong-based trustee. Techteryx claims these actions violated custody agreements, turning liquid reserves into illiquid investments that couldn’t be redeemed when users sought withdrawals.

Aria Commodities, led by financier Matthew William Brittain, has denied wrongdoing. Brittain previously told CoinDesk that Aria’s strategies were never meant to be highly liquid or suitable for stablecoin reserves, emphasizing that liquidity mismatches were tied to term commitments rather than mismanagement.

In his October 17, 2025 ruling, Justice Michael Black KC determined that Techteryx had demonstrated a “serious issue to be tried” and a credible claim that the funds were held under a constructive trust. The court ordered the global freezing of Aria’s assets, citing concerns that Brittain could dissipate or conceal funds to evade potential enforcement.

The ruling underscores growing global scrutiny of stablecoin reserve transparency and marks a significant precedent in digital asset regulation. It highlights ongoing challenges in maintaining liquidity, governance, and trust within the crypto stablecoin ecosystem as regulators tighten oversight on cross-border fund movements.