Key Points
- Justin Sun, the creator of TRON, has initiated legal action against Bloomberg to prevent the release of specifics regarding his cryptocurrency holdings.
- Sun argues that revealing exact crypto amounts could make him a target for “wrench attacks” and assist criminals in identifying his digital wallet addresses.
- The lawsuit asserts that Bloomberg journalists initially guaranteed his data would remain “strictly confidential,” but the company now intends to publish detailed breakdowns despite these promises.
TRON’s founder, Justin Sun, is taking legal measures against Bloomberg. He claims that the media company is planning to violate its promise of confidentiality by making public specific details concerning his cryptocurrency assets. Sun alleges this could significantly increase his risk of theft, hacking attempts, kidnapping, and physical harm.
The lawsuit, which was filed on Monday in a Delaware federal court, aims to prevent Bloomberg from disclosing the precise amounts of crypto assets Sun provided. According to the suit, this information was only given for wealth verification purposes for inclusion in Bloomberg’s Billionaires Index.
Sun maintains that Bloomberg assured him this information would remain “strictly confidential.”
The initial report of this lawsuit came from crypto researcher Molly White. The suit seeks both temporary and permanent injunctions to stop Bloomberg from publishing Sun’s specific cryptocurrency holdings.
The legal document highlights the “irreversible” nature of crypto transactions, emphasizing that “if Plaintiff is coerced, hacked, or scammed out of their funds, there is little to no possibility of recovering those assets.”
Representatives for Justin Sun did not immediately reply to requests for comments. Attempts to reach Bloomberg for a statement are still ongoing.
According to the complaint, Bloomberg journalist Muyao Shen contacted Sun’s team around February 2025, with the intent of featuring him on the Billionaires Index, which ranks the world’s 500 wealthiest people.
Sun was initially hesitant due to concerns regarding his substantial cryptocurrency investments. However, he agreed following what he described as explicit promises that his financial data would be strictly protected.
David Gu, the General Counsel of LBank, suggested to Decrypt that “Justin could provide Bloomberg with a zero-knowledge net-worth proof without disclosing specific addresses or positions.”
Gu acknowledged that “modern democracies value the public’s right to know, particularly regarding the finances of public figures, which may have implications for public trust.”
However, he also stated that “financial data is especially sensitive,” adding that “disclosure should be proportionate and purpose-driven, while also considering legitimate security, privacy, and contractual rights.”
According to the legal complaint, Bloomberg journalist Tom Sloan reportedly informed Sun’s team via a secure Telegram chat that wallet address files “won’t leave our office and the only people who have access are my team and the engineers who manage the API.”
Concerns Regarding Wrench Attacks
Sun’s team emphasized the sensitive nature of the data shared, stating, “All information shared within the group is strictly confidential and for verification purposes exclusively.”
Sun contends that publishing detailed breakdowns of his crypto holdings is different from how Bloomberg typically presents such information.
The lawsuit points out that for other billionaires on the index, crypto holdings are usually reported in aggregate or based on public statements.
Sun’s legal team warns that the disclosure of precise crypto amounts could enable malicious actors to identify his wallet addresses through “address clustering techniques” that analyze transaction patterns.
The lawsuit references Bloomberg’s coverage of “wrench attacks,” where physical violence is used to coerce crypto transfers, stressing that “public wallet visibility increases the risk” of such incidents.
This year alone, there have been 51 documented attacks around the world. These events include high-profile kidnappings in France, where victims had fingers severed, and a crypto founder in Uganda who was forced to transfer $500,000 at gunpoint.
According to the complaint, Bloomberg has reportedly confirmed that it intends to publish the information “imminently.”
Sun is seeking a jury trial, along with the recovery of court costs and attorney fees.
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