FTX Alleges Justin Sun Swept $10M Bitcoin from Poloniex

FTX Trading Ltd. has alleged that Justin Sun, the founder of the Tron blockchain, moved $10 million in Bitcoin from customer accounts at the Poloniex exchange. The claim was detailed in an adversary proceeding document filed as part of FTX's ongoing bankruptcy case, dated July 14, 2026.

The filing suggests that the alleged transfers occurred before FTX's collapse, involving funds held by Poloniex, an exchange acquired by a consortium that included Sun in 2019. FTX’s legal team is seeking to recover these assets, marking the latest effort by the bankrupt firm to claw back funds it says were improperly transferred.

Asset Recovery Efforts

The allegations underscore the complexity of tracing digital assets across platforms during bankruptcy proceedings. FTX's estate has been systematically pursuing claims against individuals and entities believed to have received funds from the exchange or its affiliates. The outcome of this specific proceeding could set a precedent for future recovery actions in the crypto industry.

The filing did not specify the exact dates of the alleged transfers but included details about the movement of Bitcoin from Poloniex customer accounts. If successful, FTX could reclaim the $10 million in Bitcoin, potentially increasing the pool of assets available for creditors.

The legal action also raises broader questions about the security of customer funds on crypto exchanges, particularly during periods of financial distress. Poloniex has faced scrutiny over its operations since the acquisition, and Sun has previously been involved in other legal disputes within the crypto space.