- Justin Sun has filed a lawsuit in Delaware federal court against Bloomberg to stop the publication of his confidential cryptocurrency holdings.
- Sun claims that Bloomberg had promised confidentiality but is now preparing to publish sensitive financial data.
- The lawsuit cites concerns over possible theft, hacking, kidnapping, and physical harm if his crypto holdings are made public.
- Experts highlight the risks of “wrench attacks,” where criminals use force to steal digital assets, noting a rise in such incidents globally.
- Legal opinions suggest the outcome could set a precedent for how media organizations handle private crypto information.
Justin Sun, founder of Tron, has initiated legal action against Bloomberg in Delaware federal court. Sun seeks to prevent the company from publishing detailed information about his cryptocurrency assets, citing safety and privacy concerns.
Court filings show that Sun’s lawsuit was triggered after Bloomberg reportedly assured him of confidentiality regarding his financial details. According to Sun, the news organization is now set to release information that could pose a “significant and imminent risk” to his security.
Sun’s legal team shared that all data provided to Bloomberg were marked as confidential and only intended for verification. An encrypted message from Bloomberg journalist Tom Sloan stated, “Wallet address files won’t leave our office and the only people who have access are my team and the engineers who manage the API.” The case follows Bloomberg’s approach to Sun in February 2025 for its Billionaires Index, where confidentiality was reportedly assured.
The lawsuit points to rising concerns about “wrench attacks,” a term for physical assaults or kidnappings to force victims to transfer cryptocurrencies. Legal documents note 51 such incidents worldwide this year. Cases in France and Uganda involved severe violence, including threats and bodily harm, when targeting crypto holders. The complaint states, “If Plaintiff is coerced, hacked, or scammed out of their funds, there is little or no recourse.”
Legal experts, such as David Gu of LBank, have commented on the balance between privacy and public interest. Gu suggested possible alternatives like a “zero-knowledge net-worth proof” that would verify wealth without showing wallet details. He added, “Financial data is uniquely sensitive. Disclosure should be purpose-driven and proportionate, balanced against credible security, privacy, and contractual interests.”
Reports indicate that Bloomberg typically publishes only aggregated crypto asset values for other billionaires, not detailed wallet addresses. Sun is asking for a jury trial and for Bloomberg to cover his legal fees. His legal team rushed to file the case as publication of his information appears imminent.
For more details, the original story is available at Decrypt.
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