Secretly Justin Sun Sells Crypto Worth IDR 857 Billion From Binance

Justin Sun, the founder of TRON. (Photo; Doc. CryptoNews)

JAKARTA - Justin Sun, founder of Tron and adviser to HTX, has reportedly withdrawn a crypto asset worth $ 60 million (Rp857 billion) from the Binance exchange in the past month. According to data from Lookonchain, blockchain analytic firm Sun withdrew a maximum asset in the form of Ethereum (ETH) worth $43 million (Rp614 billion), followed by Aave (AAVE) worth $6.7 million (Rp95.7 billion), Shiba Inu (SHIB) worth $6.3 million (Rp90.1 billion), as well as other assets such as Chainlink (LINK) and Decentraland (MANA).

"Since December 18, 2023, Justin Sun has withdrawn assets worth 60 million from Binance," wrote Lookonchain in a tweet.

Unlike Lookonchain claims, analysis firm Arkham Intelligence provided a different note regarding Justin Sun's wallet activity. Arkham noted that the wallet address connected to Sun had attracted more than $235 million (Rp3.4 trillion) in the last 218 days.

On December 18, the wallet related to crypto billionaires showed a withdrawal of 500 billion SHIB (worth $5.1 million or Rp72.8 billion). The following day, the wallet made an additional 70 billion SHIB (around $900,000 or Rp12.9 billion) withdrawals.

This news comes days after the HTX and HTX DAO exchanges experienced a distributed denial-of-service attack on Friday, reported by Coincu. Sun posted this on his Twitter account last Friday. He stated that HTX returned to normal after 15 minutes of disruption.

The huge volume of asset withdrawals by Tron owners sparked speculation among the crypto community about Sun's motivation and its potential impact on asset prices. What's more, this huge recall comes as Ethereum fell 3.53% in the last 24 hours. Currently, this cryptocurrency is trading at $22368 (IDR 33.8 million).

Even so, Ethereum has seen a significant increase in the last 30 days. The trading volume of ETH has increased by more than 14.89% in the last 24 hours, reaching a total of $9,184,315,852 (Rp131 trillion).