Justin Sun reports $500M embezzlement by FDUSD issuer to Hong Kong authorities

Tron founder Justin Sun announced on X that he met with Hong Kong lawmaker Johnny Wu to report an alleged embezzlement of nearly $500 million in client reserves by First Digital Trust (FDT). Sun stated that evidence has been submitted to both regulatory and legal authorities, and expressed full confidence that the misappropriated funds will be recovered and those involved will face legal action.