"TRON Founder Sun in Legal Battle Over $78M Sculpture"

Justin Sun, the founder of TRON, has found himself in a legal dispute over the ownership of a valuable sculpture, "Nose" by Jia Aimei, which he acquired for $78.4 million at the 2021 Sotheby’s New York Autumn Auction. Sun initially planned to donate the sculpture to his blockchain initiative, ApeNFT, but later changed his mind and intended to sell it. However, he did not authorize his art advisor, Xiong Zihan, to facilitate the transaction.

Sun has accused Zihan of forging his signature, misrepresenting ownership, and engaging in unauthorized sales of the sculpture. 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 has confirmed that Zihan admitted to the forgery and impersonation during the dealings.

Sun has initiated legal action against collector David Geffen to reclaim the artifact, which Geffen currently possesses and has refused to return. Geffen has labeled 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.