On April 3rd, TRON founder Justin Sun revealed at a press conference that after providing funding assistance for Techteryx's stablecoin TUSD, he discovered that financial institutions including Hong Kong trust companies First Digital Trust Limited (FDT), Legacy Trust Company Limited (Legacy Trust), and a private company in Dubai had illegally misappropriated $456 million in TUSD's fiat currency reserves.

Justin Sun stated that Vincent Chok, CEO and director of FDT and Legacy Trust, approved the illegal transfer of public assets, which damaged public interests and undermined Hong Kong's reputation as a global financial center. Although Justin Sun himself provided sufficient liquidity for TUSD through funding assistance from his personal assets, safeguarding the interests of all TUSD holders, the incident exposed serious vulnerabilities in the trust industry. He called on Hong Kong regulatory authorities to severely punish the fraudsters and reform industry standards.