🧐Rights Protection Ceiling: Even someone as strong as Sun Ge can be cut one day?｜We should often reflect on what stablecoins we should hold and how to hold them!

This afternoon, I took the high-speed train and had nothing to do,

So I happened to watch Sun Ge's press conference and the recent TUSD reserve incident.

I think many people will enjoy this gossip because everyone is quite surprised: it turns out that even Sun Ge can be cut one day, even someone as strong as Sun Ge has a day of rights protection?

Gossip, gossip!

Moreover, this time it wasn't a loss on-chain, nor was it a liquidation from a counterparty, but rather the reserve funds of the stablecoin were seriously cut by custodians, trust institutions, and offshore funds, the real "traditional finance."

Some people are curious and don't know what's going on:

Let me briefly explain what happened👇

1️⃣ Old Team's "Secret Maneuver":

After Techteryx acquired the TUSD business in 2020, it entrusted the old operator TrueCoin to continue managing the reserves.

As a result, a group of trust and fund institutions conspired to directly move $456 million in reserves to a private company, Aria DMCC, while forging documents to cover it up.

Then this money mysteriously went to various places.

2️⃣ Global Lawsuits + Successfully Frozen Funds:

With the money inexplicably gone, rights protection was inevitable. After Techteryx filed lawsuits globally, the Dubai Financial Court officially ruled in October this year:

✔️ Global freeze on the assets of the involved accounts

✔️ Multiple fraud suspicions against the involved parties have been established

The next step is to trace the funds throughout the entire chain.

3️⃣ The Greatest Practical Significance:

Currently, public users have not suffered any losses.

Because Sun Ge had previously provided full loan support for TUSD, it's somewhat like a safety net.

4️⃣ What does this incident indicate?

First of all, let's be honest,

Sun Ge @justinsuntron's safety net this time is reliable.

But it also indicates that the ceiling of stablecoins is not technology, but rather: financial governance + asset transparency + legal enforcement.

Stablecoins are not as simple as "printing a coin and offering interest"; they are evolving into a deep integration of: on-chain products × real financial order.

If even Sun Ge can be cut, shouldn't we re-examine the asset custody issues of all stablecoins?

The future will undoubtedly be an era of compliance, and it will certainly be the world of stablecoins, so it's not a matter of whether you want it or not, but an inevitability.

We should carefully consider what stablecoins we should hold and how to hold them!

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