Justin Sun Urges Dubai to Investigate $500M First Digital Trust Fund Transfers
Tron founder Justin Sun has renewed his call for a full investigation into First Digital Trust (FDT), alleging the company moved $500 million in customer assets to banks in Dubai without proper authorization.
In a detailed post on May 3, Sun claimed the funds were funneled into accounts at Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank (ADIB), and EFG.
Sun named several individuals he alleges were directly involved in facilitating the transfers, including FDT CEO Vincent Chok and former executives Christian Alexander Boehnke, De Lorraine Elbouef, Yai Sukonthabhund, Matthew William Brittain, and Cecilia Teresa Brittain. He asserted that their executive roles within FDT and related firms enabled them to access and misappropriate customer funds.
As Dubai continues to build its reputation as a crypto-friendly hub, Sun warned that inaction could risk tarnishing the city’s credibility. He urged local regulators and financial institutions to act swiftly by launching internal audits, freezing suspicious inflows, and disclosing any irregularities.
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“Dubai must not become a safe haven for fraud and money laundering,” Sun warned, adding that decisive action is needed to uphold trust in the financial and crypto sectors alike.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
