Tron founder Justin Sun has taken legal action against Bloomberg, alleging that the media outlet unlawfully disclosed his private financial information in its Billionaires Index profile. Sun filed a lawsuit on August 11, claiming that Bloomberg intended to publish highly confidential and proprietary details about his crypto holdings without his consent. He argued that this disclosure could cause significant financial and personal harm due to the sensitive nature of the data.
Sun stated that he had provided Bloomberg with some information about his crypto portfolio for verification purposes only, with the condition that it would not be published without his permission. However, he claimed that Bloomberg’s planned report went beyond the standard data typically included in the Billionaires Index and contradicted assurances given to him.
According to Sun, the publication of this information could make him a target for bad actors who could use it to carry out attacks, including theft, hacking, kidnapping, and bodily harm. His legal team emphasized the risks associated with disclosing his wallet numbers, given his significant crypto holdings.
This lawsuit is not the first time Bloomberg has faced disputes with prominent figures in the crypto industry. Binance founder Changpeng Zhao has also threatened to sue the outlet for publishing false and damaging reports about him and his company.
In response to Sun’s lawsuit, Bloomberg stated that it would challenge the legal action and the temporary restraining order (TRO) that Sun requested. The outlet argued that the TRO was unnecessary as the article had already been published before they received a cease-and-desist letter from Sun’s legal team. Bloomberg also defended its First Amendment rights, claiming that blocking publication would infringe on freedom of speech.
Bloomberg’s report estimated Sun’s net worth to be $12.4 billion, with the majority of his wealth tied to digital assets. The outlet disclosed that Sun owned a significant amount of TRX tokens, Bitcoin, Ethereum, and Tether USD, based on verifiable on-chain holdings.
This legal battle between Justin Sun and Bloomberg highlights the challenges faced by individuals in the crypto industry when it comes to protecting their privacy and financial information. As the case unfolds, it will be interesting to see how the court rules on the matter and the implications it may have for future media coverage of high-profile individuals in the crypto space.