Justin Sun, the founder of the Tron blockchain, has launched legal action in a Delaware federal court against Bloomberg, claiming the outlet is preparing to publish a detailed breakdown of his cryptocurrency holdings despite promises to keep them private.
He says releasing the figures could expose him to theft, hacking, kidnapping, and physical harm.
The dispute began earlier this year when Bloomberg journalist Muyao Shen approached Sun’s team about featuring him in its Billionaires Index.
Sun was initially reluctant but agreed after what he describes as “explicit assurances” that any data provided, especially relating to his crypto assets, would remain “strictly confidential” and be used only for verifying his net worth.
Court filings say Sun shared wallet information through a secure channel after Bloomberg journalist Tom Sloan allegedly told his team via encrypted Telegram:
“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.”
Source: CourtListener
Sun’s lawyers argue that the information was meant only to confirm his total wealth, with any published figure to appear as a lump sum—consistent with how the index handles other crypto billionaires’ assets.
They also claim Bloomberg agreed in writing that the data would be stored internally, accessed by limited staff, and deleted after verification.
In late July, Sun’s representatives learned that figures from his confidential submission were being prepared for use in a separate Bloomberg article.
A draft of his Billionaires Index profile allegedly included “numerous inaccuracies” and a breakdown of his holdings by token type and amount—something Sun’s team says goes beyond normal practice and could allow blockchain trackers to identify his wallets.
The filing warns that such visibility could lead to “wrench attacks”—physical violence used to force crypto transfers.
It cites 51 documented incidents this year, including kidnappings in France where victims had fingers severed, and an armed robbery in Uganda involving $500,000 in crypto.
Sun sought a temporary restraining order on 11 August, but Bloomberg’s lawyers say the move came too late—the article had already been published nearly two hours before the filing.
The outlet’s legal team has indicated it will oppose the request, arguing it would interfere with press freedoms protected under the First Amendment.
Bloomberg’s updated profile of Sun claims he holds significant TRX—the native token of Tron—and reports that most of his wealth is tied to cryptocurrency.
The company rated its confidence in the analysis at just one out of five stars, a detail Sun’s camp says reflects “the weakness of their reporting.”
In a blog post on Tron’s website, Sun’s representatives accused Bloomberg of publishing “inaccurate data that dramatically and dangerously misrepresents Mr. Sun’s assets,” including attributing holdings to him that he says he has never owned, while omitting some that he does.
The lawsuit seeks temporary, preliminary, and permanent injunctions to block Bloomberg from publishing a detailed asset breakdown, alongside reimbursement for legal costs.
Sun is demanding a jury trial, maintaining that the planned disclosure is both a breach of trust and a direct threat to his safety.
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