Tron founder Justin Sun has filed a lawsuit in the US District Court for the District of Delaware, seeking to stop Bloomberg from publishing what he calls highly sensitive details of his cryptocurrency holdings.
The blockchain entrepreneur says the disclosure would invade his privacy, and put him and his family at risk.
In the complaint, Sun alleges Bloomberg approached him earlier this year to be included in its online Billionaires Index, a ranking of the world’s richest individuals.
Crypto Holdings Meant to Be Shown Only as Lump Sum, Sun Claims
Before agreeing, he says Bloomberg assured him that any asset information he provided would be kept “strictly confidential.” Moreover, this applied especially to his cryptocurrency holdings. He adds that it would be used only to verify his net worth.
Source: Sun v. Bloomberg, L.P., 1:25-cv-01007
Sun, who founded Tron in 2017 and has substantial crypto and other assets, says he ultimately agreed based on these assurances.
He provided detailed wallet and asset data through a secure channel with Bloomberg’s wealth verification team. His understanding, he claims, was that any reference to his crypto assets in his profile would be limited to a lump sum valuation. He adds that it would not include a breakdown by token type.
Bloomberg declined to comment on the matter.
Confidentiality Promises Allegedly Broken With Draft Profile Release
According to the filing, multiple Bloomberg journalists reiterated this confidentiality in writing. They stated that the data would remain on internal systems and that it would be accessible only to select staff. They also confirmed it would be deleted after verification.
Sun’s team also set explicit conditions in March. They stated the information was “for verification purposes only” and “must not be used for any other purpose, including reporting.” Further, the lawsuit says Bloomberg did not object to these terms.
In late July, Sun’s team learned that a Bloomberg journalist was using figures from the confidential material for a separate article.
Around the same time, Bloomberg provided a draft Billionaires Index profile that included what Sun describes as “numerous inaccuracies” and, critically, a detailed breakdown of his cryptocurrency holdings by type and amount.
Detailed Crypto Data Could Help Trackers Link Wallets, Filing Claims
Sun argued that such granular disclosure is unusual for Bloomberg’s index. Further, he said it goes beyond what is published for other crypto billionaires, such as Coinbase’s Brian Armstrong or Binance’s Changpeng Zhao. He adds that these details are not shared unless the individuals have already made them public.
He claimed the planned publication would allow blockchain trackers to link his wallets. As a result, he believes this could make him a prime target for hackers and thieves. Moreover, he warns it could even expose him to potential physical attacks.
The filing notes that public blockchain transparency makes it relatively easy to identify large wallets once the asset composition is known. It also cites past incidents where wealthy crypto holders faced kidnapping or extortion attempts. Further, it references Bloomberg’s own prior reporting on these risks.
Sun Argues Asset Breakdown Could Have Lasting Consequences Beyond One Article
Sun is suing on two counts, public disclosure of private facts and promissory estoppel. Moreover, he claims Bloomberg’s planned publication clearly breaches the promises that convinced him to share the data. He adds that the harm could be both financial and physical. This is because crypto transactions are irreversible, and attackers can quickly move stolen funds.
The lawsuit seeks a temporary restraining order, as well as preliminary and permanent injunctions. These would block Bloomberg from publishing the breakdown. In addition, it requests reimbursement of legal costs. Further, Sun has demanded a jury trial.
For Sun, whose public profile is closely tied to Tron and other ventures, the case is about more than media coverage.
It touches on a core tension in crypto between the transparency of blockchain data and the personal security of high-value holders. Sun says revealing his detailed holdings could have consequences that extend well beyond a single news profile.
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