TRON blockchain founder Justin Sun announced a new bounty program on X(Twitter) to recover stolen funds from misappropriated TUSD reserves. Sun declared that his $50 million bounty program targets criminals like First Digital Trust, who misused these reserves.
He emphasized that his initiative aims to restore justice in the Web3 industry and protect Hong Kong’s reputation as a global financial center.
Bounty Program Details
Sun explained that the program rewards insiders and whistleblowers who provide crucial clues to recover funds. He promised full transparency by launching a dedicated tracking platform called web3bounty.io soon.
All reported information will be strictly reviewed before any rewards are distributed to whistleblowers. The program is not solely about money but also aims to uphold justice in the Web3 industry. Sun emphasized that Hong Kong’s reputation as a global financial center is at stake.
Financial Risk and TUSD Stability
Sun revealed that his decision to support TUSD was a difficult yet necessary choice for the ecosystem. He personally took on a financial risk of $500 million to keep TUSD stable amid market uncertainties.
Sun explained that this risk was essential to protect TUSD token holders from major losses. He stated that his actions reflect a deep commitment to the integrity of decentralized finance.
Sun’s decision was driven by the need to prevent a larger crisis for TUSD holders and the broader crypto community.
Security and Recovery Efforts
Sun’s announcement comes amid growing concerns about digital asset security and fund misappropriation in the blockchain space. The bounty program is designed to encourage insiders to report any key information that can lead to the recovery of stolen funds.
This move also signals a commitment to increasing accountability within the industry. By offering substantial rewards, Sun aims to deter fraudulent activities and improve overall trust in digital finance. His approach promotes a culture of transparency and responsibility across the crypto ecosystem.
Justin Sun’s initiative represents a bold step towards recovering misappropriated funds and securing trust among TUSD token holders. The program may set new standards for transparency and accountability in the crypto world.
Sun’s financial support and bounty program aim to restore confidence among TUSD token holders and the broader community. The announcement highlights his willingness to risk personal funds to protect digital assets from criminal misuse. Sun’s bold move is expected to reinforce trust and strengthen justice within the blockchain space.
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