Crypto billionaire Justin Sun has sued World Liberty Financial, a project co-founded by US President Donald Trump, accusing the company of extortion and an 'illegal scheme' to seize his tokens.
Sun invested $45 million in World Liberty's WLFI tokens and was awarded another billion tokens for advising the project, but claims his relationship with the team soured after he declined to provide more investment and support.
The complaint alleges that World Liberty secretly installed powers to freeze Sun's tokens, prevent him from selling any, and even seized the power to burn his tokens, which are located in his own digital wallet.
Sun also claims that World Liberty has been trying to pressure him to invest in its USD1 stablecoin and promote its use on the Tron blockchain, and that the company has been in financial distress, taking out a loan using WLFI tokens as collateral.
Sun is asking the court to unfreeze his tokens, award monetary damages, and prevent World Liberty from burning or encumbering his tokens.
