Dubai court freezes $456M amid TUSD reserve shortfall probe

A court in Dubai has frozen $456 million in connection with a reserve shortfall at TrueUSD issuer Techteryx, CoinDesk reported. Prosecutors are investigating whether TUSD reserves were funneled into the illiquid businesses of Aria Commodities DMCC, a Dubai-based trade finance firm. Techteryx claims the funds were transferred to Aria without authorization from its custodian, First Digital Trust, resulting in the $456 million shortfall. Justin Sun later stepped in with a bailout.