Hong Kong, May 6, 2025 – A new bounty program has been launched on the online platform Web3Bounty.io, which aims at finding leads and information about the approximately $456 million of the TrueUSD (TUSD) stablecoin reserves being misappropriated. There is a $50 million bounty pool available for those who provide credible original information leading to the identification and recovery of the assets. This effort is focused on securing justice and protecting the victims of this unprecedented breach, including thousands of public TUSD token holders.
The case involves Hong Kong licensed trust companies and a network of intermediaries believed to have exploited regulatory loopholes to facilitate the misappropriation of over half a billion USD in client assets held under escrow by licensed trust companies. In response, a bounty program has been launched on Web3Bounty.io to bring transparency and accountability to this unprecedented breach, with support from stakeholders across the Web3 ecosystem.
Through Web3Bounty.io, whistleblowers, insiders, and investigators can submit actionable information. Original verified leads that contribute meaningfully and directly to the recovery effort may be eligible for bounties from the $50 million reward pool — equivalent to around 10% of the lost assets. The platform will provide real-time major updates on recovery progress, with all submissions being subject to independent verification before rewards are issued in the bounty program operator’s sole discretion. Justin Sun, Founder of TRON, also came onto X to congratulate the launch of Web3Bounty.io, mentioning the importance of tracking Web3 scams and improving transparency.
The case has drawn widespread attention in the blockchain industry due to the scale of the losses and the number of affected parties. Web3Bounty.io seeks to empower the broader community to assist in uncovering misconduct and reinforce the integrity of digital asset custodianship.
For more information or to submit a lead, please visit www.web3bounty.io.
Disclaimer:
Participation in the bounty program is entirely voluntary and at the participant’s own risk. All participants must comply with applicable laws, as well as specific terms and conditions and policies of the bounty program. Nothing in this press release or on the online platform constitutes legal advice, nor should it be interpreted as creating any partnership, joint venture or employment relationship between the bounty program operator or participants.
About Web3bounty.io
Web3Bounty.io is an online platform where crypto-related bounty programs are launched, designed to incentivize truth-telling and accelerate recovery of stolen funds through decentralized justice.
Follow us on X @web3bountyio
Media Contact:
Sam Zhang
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