Big news! Sun Yuchen exposes $456 million financial fraud case, calls for global regulatory cooperationToday, TRON founder @ Sun Yuchen revealed a shocking financial fraud case at a press conference: Hong Kong licensed trust companies FDT, Legacy Trust, and Dubai private companies conspired to illegally transfer TUSD stablecoin reserves of $456 million through forged documents! It is reported that these funds were secretly transferred to a company controlled by the wife of a Cayman fund investment manager, and the CEOs of two trust institutions personally approved these illegal operations. Even more shocking is that the protagonist of the fraud case, TrueCoin, continued to engage in false investment operations as an operator after being acquired by Techeryx. It was not until 2023 when Techeryx discovered abnormal interest payments and a professional team investigated that this multi country financial crime network was uncovered. Sun Yuchen urgently supported Techteryx with personal funds to ensure that the rights and interests of TUSD holders were not compromised. It is worth noting that the US SEC had already accused TrueCoin of fraud as early as September last year, exposing the fact that it profited from false statements. Sun Yuchen emphasized, "As an industry participant, I have a responsibility to safeguard the safety of public funds. Licensed institutions need to establish a more comprehensive risk control system through international cooperation to prevent self theft and expose regulatory loopholes This incident not only sounded the alarm for financial regulation, but also highlighted the urgency for Hong Kong as an international financial center to strengthen compliance construction. As Sun Yuchen said, "We must use the sharp sword of the law to cut off the criminal chain, and never let fraudsters use their licenses to harm society again!" This case involving multiple jurisdictions may promote the upgrading of global cryptocurrency custody standards.