Justin Sun Doubles Down on First Digital Trust Fraud Allegations, Urges H.K. Regulators to Act
Overview
Justin Sun has reiterated his allegations against First Digital Trust (FDT), claiming that the company has taken advantage of weaknesses in Hong Kong’s trust company regulations. His statements come in the wake of a Dubai court’s decision to freeze assets associated with the alleged misappropriation.
Allegations Against First Digital Trust
Sun has made serious accusations against FDT, asserting that the company has been exploiting vulnerabilities within the regulatory framework governing trust companies in Hong Kong. He has called for swift action from local regulators to address these concerns and protect stakeholders.
The situation escalated when a court in Dubai froze assets linked to the alleged misappropriation. This legal development highlights the seriousness of the claims made against FDT and suggests potential ramifications for the company and its operations.
Impact on the crypto market
- Increased scrutiny on trust companies operating in Hong Kong.
- Potential regulatory changes in response to the allegations.
- Heightened awareness among investors regarding the risks associated with trust management in the crypto sector.
- Possible repercussions for First Digital Trust’s reputation and operations.
- Greater emphasis on compliance and transparency within the cryptocurrency industry.
Updated: 11/27/2025, 3:26:21 PM
