DIFC Court Upholds $456M Freezing Order in Techteryx Stablecoin Fraud Case

TLDR:

• DIFC Court upheld a worldwide freeze on $456M linked to the Techteryx misappropriated stablecoin reserves.
• Justice Michael Black KC confirmed proprietary and freezing injunctions remain in effect until further notice.
• Techteryx’s case involves cross-border tracing of funds across Dubai, Hong Kong, and other jurisdictions.
• Justin Sun reaffirmed ongoing efforts to recover the $456M lost through fraud tied to ARIA and affiliates.

The Dubai International Financial Centre (DIFC) Court has upheld a worldwide freezing injunction against Aria Commodities DMCC over $456 million linked to a stablecoin reserve fraud. The order follows claims by Techteryx Ltd that funds backing its stablecoin were siphoned by entities connected to Aria. 

Justice Michael Black KC ruled that both proprietary and global freezing injunctions will remain in effect. The decision marks a critical step in Techteryx’s ongoing efforts to recover missing reserves tied to its digital asset operations.

Techteryx Pursues Justice Over $456 Million Stablecoin Loss

Court documents show that the case, filed as Techteryx Ltd v Aria Commodities DMCC and Others, stems from a complex misappropriation scheme involving funds held to back a USD-pegged stablecoin. 

According to the judgment, the reserves were fraudulently transferred and potentially laundered through multiple banking channels. The proceedings are being coordinated with related litigation in the Hong Kong High Court.

During hearings in July 2025, Techteryx’s counsel argued that the funds represented tokenholder reserves that were wrongfully diverted from legitimate redemption pools. 

The company sought both proprietary and freezing orders to prevent further dissipation of the funds. These orders, first issued in February 2025, were extended following a series of hearings through the summer.

Justice Black affirmed that the proprietary injunction prohibits Aria from dealing with or disposing of assets up to the $456 million value. The worldwide freezing injunction further restricts any transfer or concealment of Aria’s assets globally. 

The court also blocked the firm from securitizing assets derived from the stablecoin reserves pending further orders.

Techteryx was represented by Al Tamimi & Company, while Aria Commodities DMCC was represented by Quinn Emanuel Urquhart & Sullivan. The judgment also noted a forensic report prepared by FTI Consulting as part of the defense evidence.

Ongoing Tracing Efforts and Global Enforcement

Following the DIFC ruling, Techteryx continues to trace the missing reserves through multiple jurisdictions. According to public statements by Justin Sun, the company remains committed to restitution for all public holders affected by the TUSD-related fraud. 

Sun noted that over $456 million in reserves were misappropriated through networks involving Aria Group, First Digital Trust, and Legacy Trust.

The DIFC Court emphasized that while it will not try the full fraud case, it found a serious issue to be tried in Hong Kong. The continued injunction ensures that the disputed assets remain secured while investigations proceed. 

The order sends a message to global operators handling digital asset reserves about accountability and cross-border legal oversight.

Techteryx is working with digital forensics teams to identify all wallet addresses and accounts tied to the laundered proceeds. The company’s pursuit underscores how stablecoin issuers are increasingly relying on established legal frameworks like the DIFC’s Digital Economy Court to enforce asset recovery in crypto-linked disputes.

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