The story of the 500 million USD market rescue: A transnational asset recovery battle
In January 2024, the stablecoin TUSD plummeted due to the "disappearance" of $456 million in reserves, facing a systemic collapse. A decisive injection of $500 million in emergency liquidity stabilized the crisis.
The article reveals that the custodian FDT violated instructions by transferring funds to the private trading company Aria DMCC. After a legal battle spanning Hong Kong, Singapore, and Dubai, the Dubai court issued the first global asset freeze order in the history of cryptocurrency in October 2025, freezing the involved $456 million. This case is not only a textbook example of crisis management but also marks a milestone in the rule of law in digital finance.
What specific details would you like to know about this case, such as how the funds were misappropriated or the legal implications of the Dubai court ruling?
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The story of the 500 million USD market rescue: A transnational asset recovery battle
In January 2024, the stablecoin TUSD plummeted due to the "disappearance" of $456 million in reserves, facing a systemic collapse. A decisive injection of $500 million in emergency liquidity stabilized the crisis.
The article reveals that the custodian FDT violated instructions by transferring funds to the private trading company Aria DMCC. After a legal battle spanning Hong Kong, Singapore, and Dubai, the Dubai court issued the first global asset freeze order in the history of cryptocurrency in October 2025, freezing the involved $456 million. This case is not only a textbook example of crisis management but also marks a milestone in the rule of law in digital finance.
What specific details would you like to know about this case, such as how the funds were misappropriated or the legal implications of the Dubai court ruling?
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