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TRON founder refunds $56M TUSD transferred to Binance

Published date:

February 2, 2026

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In the words of Justin Sun, “Regrettably, some of our team members were not fully aware of the intended purpose for these [TUSD] funds and inadvertently used a portion of them to participate in exchange campaigns.”

TRON (TRX) founder Justin Sun agreed to reverse a transaction involving $56M TrueUSD tokens sent to Binance after receiving a warning from the exchange’s CEO.

On May 1, blockchain tracker Whale Alert reported that Justin Sun transferred $56.44M in stablecoin TrueUSD (TUSD) to a wallet associated with Binance.

56,100,000 #TUSD (56,444,454 USD) transferred from Justin Sun to #Binance https://t.co/OWFJNQ3oXO
— Whale Alert (@whale_alert) May 1, 2023

Subsequently, Binance CEO Changpeng Zhao warned Sun that their team “will take action” against him if he uses the deposited TUSD tokens to farm SUI on Binance Launchpool. This is because Binance allows only retail investors to receive airdrops from Binance Launchpool.

CZ made these statements less than a day after Binance added support for retail investors to farm SUI tokens by staking their BNB or TUSD assets on its staking product, Binance Launchpool.

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Soon, Justin Sun tweeted that the intention behind the $56M transfer was to increase the liquidity of pending TUSD orders. According to him, the transaction was made by some team members who accidentally used a portion of the TUSD assets to participate in exchange campaigns.

The founder of TRON further revealed that they have agreed to a full refund of the funds, adding,

“Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund of the funds.”

Written by

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

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How we reviewed this article

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Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

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