Michaela
Justin Sun, founder of the blockchain platform Tron, has seen his World Liberty Financial (WLFI) token address blacklisted after moving 50 million WLFI tokens to the crypto exchange HTX, a development that has sparked concerns about possible trading restrictions.
Key points:
- Justin Sun’s WLFI wallet was blacklisted after transferring 50 million tokens to HTX, raising concerns over trading restrictions.
- The blacklisting froze nearly 3 billion WLFI tokens, including 540 million unlocked tokens worth ~$101 million and 2.4 billion staked tokens worth ~$452 million.
- Sun criticized the freezing as unfair, urging the WLFI team to respect holders’ rights and warning it could harm investor confidence in the project.
According to data from blockchain explorer Etherscan, Sun’s wallet address was flagged soon after processing a $9 million transfer. After the blacklisting, Sun addressed the issue on X, explaining that the wallet in question had only carried out a few routine exchange deposit tests with minimal amounts before initiating address dispersion. He emphasized that no buying or selling activity took place and insisted the actions could not have “any impact on the market,” according to the translated post.
The wallet’s blacklisting came shortly after Sun had publicly stated that he had no plans to sell the tokens in the near future. “We have no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission,” Sun wrote in a September 1 X post.
Sun’s actions effectively locked up close to 3 billion WLFI tokens, significantly reshaping the asset’s liquidity only days after its debut. Roughly 540 million unlocked tokens, valued at around $101 million, were frozen, alongside 2.4 billion staked tokens worth an estimated $452 million.
In a follow-up post on X, Sun addressed the WLFI team, emphasizing that as an early major investor, his involvement extends beyond financial backing, reflecting both his confidence in and commitment to the project’s long-term success.
“My goal has always been to grow alongside the team and community, and to jointly build a strong and healthy WLF ecosystem,” Sun wrote. “However, during the course of operations, my tokens were unreasonably frozen,” he added.
Sun urged the WLFI team to honor holders’ rights, release his locked tokens, and allow the project to progress beyond the current situation. “I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets,” Sun wrote.
The Tron founder added that these actions undermine investors’ legitimate rights and could erode overall confidence in World Liberty Financial.
Read More
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- Sun’s Tron to List via Merger, Trump Family Connections Stir Buzz
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
