"TRON Founder's $78M Art Heist: Sun Sues Geffen Over 'Nose' Forgery"

Justin Sun, the founder of TRON, made headlines in 2021 when he acquired the renowned sculpture "Nose" by Jia Aimei for a staggering $78.4 million at Sotheby's New York Autumn Auction. Sun later donated the sculpture to his blockchain initiative, ApeNFT, but plans to sell the artwork fell through when he did not permit his art advisor, Xiong Zihan, to handle the sale.

Allegations surfaced claiming that Zihan forged Sun's signature, misrepresented ownership, and engaged in unauthorized sales. Reports indicate that Zihan orchestrated a transaction involving art dealers that exchanged the sculpture for two paintings valued at a total of $65.5 million and a cryptocurrency payment of $10.5 million without Sun's consent.

Sun's legal counsel stated that Zihan admitted to the forgery and impersonation during the dealings. Consequently, Sun has initiated legal action against collector David Geffen to reclaim the artifact, which Geffen presently possesses and has refused to return, labeling Sun's lawsuit as "desperate and ridiculous." Sun has publicly asserted the legitimacy of his claims, mentioning that law enforcement has been informed and necessary legal measures are underway. He suggested that although crime in the art world may not be as straightforward as in digital assets, there are hopes for a successful recovery of the sculpture.