Overview
- Justice Michael Black kept in place a worldwide freezing injunction and a proprietary injunction over assets up to $456 million linked to Aria DMCC.
- Court filings say reserves managed by First Digital Trust were routed between May 2021 and March 2022 into Aria entities rather than held as liquid backing for TrueUSD.
- The judge found serious issues to be tried, a credible constructive trust claim, and a real risk of asset dissipation before ownership is determined.
- Media reports state Justin Sun previously covered the reserve shortfall for TrueUSD holders and filings name him as an alleged ultimate beneficial owner of Techteryx.
- The case proceeds alongside expected Hong Kong proceedings, with this ruling reported as the Dubai Digital Economy Court’s first worldwide freezing order.