Justin Sun to Reverse $56M Binance Transfer After CZ Warns Against Potential SUI Token Grab

By Matt Brienen

Published: 2023-05-01T14:45:18+00:00

Tron founder Justin Sun tweeted on Monday that he has arranged a full refund of a $56 million transfer to exchange platform Binance after a warning from the latter against a potential token grab of the new SUI token.

After the substantial transfer made in TrueUSD (TUSD) got flagged by Whale Alert early Monday, Binance CEO Changpeng Zhao took to Twitter to say his platform has warned Sun it will take action if he used any of the funds to buy up large amounts of SUI tokens from Binance's Launchpool.

"Binance LaunchPool are meant as air drops for our retail users, not just for a few whales," Zhao said.