Justin Sun Sues Bloomberg to Block Disclosure of Crypto Holdings

TRON founder Justin Sun has filed a federal lawsuit against Bloomberg, claiming the media company plans to reveal detailed information about his cryptocurrency holdings, potentially exposing him to theft, hacking, kidnapping, and physical harm. The lawsuit, filed Monday in Delaware federal court, seeks both temporary and permanent injunctions to prevent Bloomberg from publishing specific crypto amounts provided by Sun for the Billionaires Index.

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Sun alleges that Bloomberg had promised to keep the information “strictly confidential.” According to the filing, Sun provided the data solely for verification purposes, fearing that public disclosure of precise crypto holdings could put him at risk. The complaint notes that cryptocurrency transactions are irreversible, meaning that any coercion, hacking, or scams could result in permanent loss of funds.

Background on the Bloomberg Feature

Bloomberg journalist Muyao Shen reportedly approached Sun in February 2025 to include him in the Billionaires Index, which ranks the world’s 500 richest individuals. Sun initially hesitated due to concerns over his substantial crypto holdings but agreed after receiving assurances that his financial information would remain confidential.

Bloomberg allegedly told Sun’s team that wallet address files “won’t leave our office” and would only be accessible to a select group of engineers managing the API. Sun’s legal team argues that publishing detailed crypto holdings differs from Bloomberg’s treatment of other billionaires’ crypto, whose holdings are typically reported in lump sums or based on public statements.

Security and “Wrench Attack” Concerns

The lawsuit emphasizes the unique security risks associated with revealing detailed cryptocurrency holdings. Sun’s team warned that disclosing specific amounts could allow attackers to identify wallet addresses through address clustering techniques. The complaint references Bloomberg’s own coverage of “wrench attacks,” where individuals are coerced into transferring crypto under threat of violence.

Documented attacks in 2025 include kidnappings and violent coercions in countries like France and Uganda, highlighting the physical risks tied to publicly accessible crypto addresses.

David Gu, General Counsel at LBank, commented that while public figures’ finances are relevant to public trust, disclosure of financial data should be proportional and balanced against security and privacy concerns. "In practice, Justin could furnish Bloomberg a zero-knowledge net-worth proof without revealing addresses or positions,” Gu told Decrypt. Gu emphasized that “modern democracies value the public's right to know,” but that cryptocurrency holdings present unique risks.

Next Steps

Bloomberg reportedly confirmed its intent to publish Sun’s crypto holdings “imminently.” Sun’s lawsuit demands a jury trial and seeks reimbursement for court costs and attorney fees, as he aims to block the disclosure of his sensitive financial data.