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Justin Sun: The FDUSD issuer has gone bankrupt and is unable to fulfill its redemption obligations.
BlockBeats News: On April 2, Justin Sun posted on social media that FDUSD issuer First Digital Trust (FDT) has effectively gone bankrupt and is unable to meet customer fund redemption obligations. Users are strongly encouraged to take immediate action to protect their assets. There are significant loopholes in Hong Kong's trust licensing process and internal risk management in the financial system. Regulators and law enforcement have been urged to act quickly to address these issues and prevent further significant losses. Hong Kong's reputation as a global financial centre is in jeopardy, and similar incidents of financial fraud must not happen again.