Justin Sun, the billionaire founder of TRON and a well-known figure in the cryptocurrency space, is taking legal action against Bloomberg following a high-profile report on his net worth.

In a Wednesday, August 13 blog post, TRON DAO revealed that Sun filed a restraining order against Bloomberg in an effort to remove his profile from the Bloomberg Billionaires Index. The move comes just days after Bloomberg estimated Sun’s wealth at $12.4 billion, largely attributed to his TRON (TRX) holdings.

According to Bloomberg’s August 11 report, Sun allegedly owns 60 billion TRX out of the 94 billion tokens in circulation, along with 17,000 Bitcoin (BTC), 224,000 Ethereum (ETH), and 700,000 USDT.

Sun Disputes Bloomberg’s Claims

TRON DAO issued a statement asserting that Bloomberg’s reporting misrepresented Sun’s assets by attributing to him cryptocurrency holdings he claims he has never owned, controlled, or benefited from. The statement also noted that Bloomberg failed to report certain holdings Sun does possess, without specifying which.

Interestingly, Sun has not disclosed his actual crypto holdings nor confirmed exactly which parts of the Bloomberg profile are inaccurate.

Privacy and Security Concerns Over Wallet Addresses

Sun claims the controversy escalated after Bloomberg contacted him for verification of his cryptocurrency holdings. He agreed to provide wallet addresses under the condition they would remain confidential.

According to Sun’s legal filing, Bloomberg’s alleged intent to publish these wallet addresses would put him at serious personal risk, potentially exposing him to hacking or even kidnapping. The injunction he’s seeking is designed to block Bloomberg from making these addresses public.

As of now, Bloomberg has not published the wallet addresses in question.

Bloomberg Pushes Back Against Restraining Order

Bloomberg’s legal team has already signaled it will oppose Sun’s request for a restraining order. The company argues that Sun has failed to show any direct harm resulting from the publication of his Billionaires Index profile. They also dispute the claim that Bloomberg breached any agreement regarding confidentiality.

Broader Context: High Stakes for Crypto Billionaires

The incident underscores the growing tension between public transparency and personal security in the crypto space. While billionaire rankings are common for traditional asset holders, cryptocurrency wealth often comes with heightened risks—especially if wallet addresses are made public.

High-profile figures in crypto have long been targets for cyberattacks, phishing campaigns, and, in extreme cases, physical threats. Sun’s legal push to prevent the release of his wallet addresses reflects a wider concern in the industry about balancing openness with personal safety.

What Happens Next

The case will now move through the legal process, with both sides expected to present evidence regarding the accuracy of Bloomberg’s reporting and the potential risks of publishing wallet addresses.

If the court sides with Sun, it could set a precedent for how media outlets handle sensitive blockchain-linked financial data. If Bloomberg prevails, the case may reinforce journalists’ rights to report on public figures’ wealth—even in the volatile world of cryptocurrency.