Justin Sun sues Bloomberg over claims he owns 60% of TRON tokens

TLDR

• Justin Sun has filed a lawsuit against Bloomberg over a report on his cryptocurrency holdings.
• The Bloomberg profile claimed Justin Sun owns 60 billion of the 94 billion TRON tokens in circulation.
• TRON DAO stated that the report included assets Sun never owned and omitted assets he actually holds.
• Justin Sun said he shared wallet addresses with Bloomberg only under a confidentiality agreement.
• He argued that publishing his wallet addresses could expose him to hacking and kidnapping risks.

TRON founder Justin Sun has filed legal action against Bloomberg over claims about his cryptocurrency holdings. The dispute follows Bloomberg’s August 11 profile, which estimated Sun’s net worth at $12.4 billion. The report asserted that Sun controls 60 billion of the 94 billion TRON tokens in circulation.

Dispute Over TRON Token Ownership

Bloomberg stated that Justin Sun holds the majority of all TRON tokens currently in the market. The profile also listed holdings of 17,000 Bitcoin, 224,000 Ethereum, and 700,000 USDT. TRON DAO later claimed that Bloomberg’s report attributed cryptocurrency holdings to Sun that he never owned or controlled.

According to TRON DAO, the report also failed to mention assets that Justin Sun actually holds. Sun has not disclosed his true holdings but disputes parts of the published profile. The organization argued that the publication misrepresented both the scale and the composition of his wealth.

Bloomberg contacted Justin Sun for verification of his crypto holdings before publication. Sun allegedly provided wallet addresses under the condition they remain confidential. He claims the agreement aimed to ensure security and prevent exposure to potential cyber threats.

Legal Battle Grows Over Justin Sun Crypto Report

Justin Sun sought an injunction to stop Bloomberg from publishing his wallet addresses. He argued that disclosure could put him at risk of hacking and kidnapping. The complaint emphasized the potential danger of exposing such sensitive data.

Bloomberg has not published the wallet addresses to date. However, its legal team confirmed they would oppose Sun’s restraining order. They stated Sun cannot prove the profile caused harm or breached any agreement.

The legal battle focuses on both asset ownership claims and the handling of sensitive financial information. Justin Sun continues to challenge the accuracy of Bloomberg’s reporting. Bloomberg maintains its position that the profile complied with journalistic standards.