A Dubai Digital Economy Court has issued a landmark asset freezing order of over $456 million in assets connected to Techteryx, the issuer of the stablecoin TrueUSD (TUSD). The court found ‘serious issues to be tried’ regarding claims that Techteryx’s reserves were transferred from cash or short-term liquid assets into long-term, illiquid investments, in violation of custody agreements.
It is interesting to note that it was TRON founder Justin Sun, who had stepped in to provide emergency liquidity support for TUSD after the reserve crisis had come to light. Responding to the latest developments in an X post, Sun accused ARIA group, First Digital Trust and Legacy Trust of siphoning off the $456 million. In his tweet he said that the courts judgment of freezing the accounts would come as a “strong notice to all persons knowingly involved in global scam operations of ARIA. You can run but you cannot hide; we will come after you wherever you are!”
What the court found
According to Techteryx’s filings, between 2021-2022, funds managed by First Digital Trust were moved to Aria Commodities DMCC in Dubai rather than staying within liquid reserves. The court noted that Aria provided no credible evidence of how the funds were transferred or who ultimately holds the assets and pointed to a ‘real risk’ of asset dissipation or restructuring to frustrate enforcement.
At its core, the case surrounds the false promise made by TrueUSD, that as a stablecoin, it needs to be backed 1:1 by liquid reserves. Techteryx alleges that instead of holding cash or short-term instruments, the reserves were shifted into long-term commodity and infrastructure financing via Aria. Because redemptions surged and Techteryx could not access these funds, the deficit triggered both the bailout and legal claims.
In October 2025, the Dubai court intervened to freeze the assets globally to prevent movement or concealment until the dispute over ownership and liability is resolved.