Tron Founder Sues Bloomberg to Block Crypto Holdings Disclosure

Justin Sun, founder of the Tron blockchain platform, has filed a lawsuit in the U.S. District Court for the District of Delaware to prevent Bloomberg from disclosing detailed information about his cryptocurrency holdings. The entrepreneur alleges that Bloomberg initially approached him with assurances that the data he provided would be kept confidential and used solely for verifying his net worth for inclusion in its Billionaires Index [1].

According to the complaint, Sun provided his crypto wallet and asset data through a secure channel, with the understanding that any mention of his crypto assets would be limited to a lump sum and would not include a breakdown by token type. However, Sun claims that Bloomberg later drafted a profile that included a detailed breakdown of his crypto holdings, contradicting the prior assurances [1].

The lawsuit states that multiple Bloomberg journalists reiterated the confidentiality of the data in writing, affirming that it would remain on internal systems and only be accessible to a select group of staff. It also claimed that Bloomberg agreed not to use the data for any purpose beyond verification and to delete it after the process was completed. Despite these terms, Sun alleges that Bloomberg violated the agreement by using the data for a separate article and including it in the Billionaires Index [1].

Sun argues that the detailed breakdown of his crypto assets could enable blockchain tracking services to identify and link his wallet addresses, increasing the risk of targeted cyberattacks or physical threats. He notes that such granular disclosure is not typical for other crypto billionaires, such as Brian Armstrong of Coinbase or Changpeng Zhao of Binance, unless the information has already been made public by the individuals themselves [1].

The filing highlights the inherent risks associated with exposing detailed crypto holdings, particularly for high-net-worth individuals. It references past incidents where wealthy cryptocurrency holders have been subjected to kidnapping and extortion, citing Bloomberg’s own prior reporting on these dangers [1].

Sun is seeking a temporary restraining order and preliminary and permanent injunctions to block the publication of the detailed asset breakdown. The lawsuit also seeks reimbursement of legal costs and demands a jury trial. He frames the case as not only a legal dispute but also a reflection of a broader issue within the crypto space: the tension between the transparency of blockchain data and the need for personal security [1].

The case has drawn attention to the responsibilities of financial media outlets when handling sensitive information, especially in the context of crypto assets. It also underscores the potential real-world consequences of revealing granular details about cryptocurrency holdings, particularly in an ecosystem where transactions are irreversible and funds can be swiftly moved [1].

Source:

[1] [Tron Founder Justin Sun Takes Bloomberg to Court to Block Crypto Asset Reveal](https://cryptonews.com/news/tron-founder-justin-sun-takes-bloomberg-to-court-to-block-crypto-asset-reveal/)