PANews reported on April 4th that Justin Sun once again accused FDT of suspected fraud. He stated: First Digital Trust (FDT) blatantly disregards all trustee obligations and regulatory norms, claiming to represent Techteryx in managing the Aria Commodity Finance Fund's securities investment portfolio worth up to $501.8 million under its own legal name. According to Hong Kong's Securities and Futures Ordinance (SFO), any individual or company providing securities portfolio management services must hold a Type 9 license from the Hong Kong Securities and Futures Commission, unless the service is limited to its wholly-owned subsidiary or provided by its 100% controlling parent company. Clearly, FDT is not only ignoring the basic principles of the trust industry but also openly defying Hong Kong's legal regulations regarding banking and investment. In other words, its actions completely disrespect Hong Kong's regulatory authorities and law enforcement agencies.

Additionally, Justin Sun believes that FDT has not only fallen into negative assets but has also had negative net assets for three consecutive years. By the end of 2024, its net assets were negative 100 million Hong Kong dollars. This does not even include the massive losses caused by its large-scale misappropriation of user assets. Despite this, it can now publicly custody billions of dollars in public assets in the market.

Previously, First Digital responded: It will take legal action against Justin Sun's "defamation".