Key Takeaways
- His lawyers warned that publishing exact token amounts could enable malicious actors to identify his wallet addresses using address clustering techniques
- Sun also disputes the accuracy of Bloomberg’s reporting, claiming the article attributes crypto holdings to him that he has never owned or controlled, while omitting assets he does hold.
In a major development, Justin Sun, founder of the Tron blockchain, has filed a lawsuit against media giant Bloomberg in Delaware federal court, alleging the organisation put out “false and private” financial information in it’s Bloomberg Billionaires Index.
According to the lawsuit, Sun was first approached in February by a Bloomberg journalist who sought to feature him in the Index, requesting details to verify his net worth. Sun claims he agreed only after receiving explicit assurances that his financial information—particularly his crypto holdings—would remain strictly confidential and be used solely for verification purposes. His team reiterated these conditions in March, adding that the data “must not be used for any other purpose, including reporting.” The lawsuit states Bloomberg raised no objections at the time.
Sun’s legal team argues that in late July, they learned a Bloomberg journalist was using information from the confidential materials for another article. Around the same time, Bloomberg provided a draft Billionaires Index profile that Sun alleges contained numerous inaccuracies and a detailed breakdown of his crypto holdings by type and amount—something he says has no precedent in the Index unless such data was already public through filings or voluntary disclosures.
On Monday, Sun filed for a temporary restraining order to stop Bloomberg from publishing the details, arguing that releasing the granular breakdown would “recklessly and improperly disclose highly confidential, sensitive, private, and proprietary financial information.”
His lawyers warned that publishing exact token amounts could enable malicious actors to identify his wallet addresses using address clustering techniques, increasing the risk of hacking, theft, and even physical violence. The filing cited Bloomberg’s own reporting on “wrench attacks,” in which victims are coerced into transferring crypto under threat—sometimes involving extreme violence. The lawsuit noted 51 such incidents documented globally this year, including high-profile kidnappings in France and Uganda.
Sun also disputes the accuracy of Bloomberg’s reporting, claiming the article attributes crypto holdings to him that he has never owned or controlled, while omitting assets he does hold. He says publication could cause “significant harm” to him and his family.
Bloomberg, however, told the court that Sun’s request is moot, asserting that the Billionaires Index profile had been published nearly two hours before his application was filed. The outlet said it will oppose the restraining order, arguing that blocking the article would infringe on its First Amendment rights and “gravely disserve the public interest.” Bloomberg also intends to argue that Sun cannot demonstrate an invasion of privacy, irreparable harm, or breach of any agreement.