Justin Sun Exposes $500 Million Embezzlement Case Involving First Digital Trust (FDT)

On April 3rd, Justin Sun took to the X Platform to share critical developments regarding a significant case involving First Digital Trust (FDT). In his statement, he disclosed a serious issue of embezzlement amounting to nearly $500 million, which pertains to customer reserve funds. Sun mentioned that he has engaged with Hong Kong Legislative Councilor Wu Chi-wai to address this alarming situation. He emphasized that all investigative materials have been submitted to regulatory authorities and relevant law enforcement agencies. Sun expressed optimism about the recovery of the misappropriated funds, asserting that legal actions will be pursued against those implicated in this financial misconduct. This case highlights the growing scrutiny of digital asset custodians and the importance of regulatory compliance in safeguarding customer assets.