Justin Sun Accuses Huobi Founder’s Brother For Selling HT Tokens

In a recent tweet, H.E. Justin Sun, the founder of Tron and a prominent figure in the cryptocurrency world, unveiled a significant issue surrounding the distribution of Huobi Tokens (HT). Sun disclosed that during the initial distribution of HT, Li Wei, the brother of Leon Li, the founder of HT DAO, received millions of HT tokens for free.

Justin Sun tweeted:

When HT was initially distributed, Li Wei, Leon Li’s brother, received millions of HT tokens for free. Li Wei has been consistently selling off these HT tokens and cashing out.

Justin Sun On HT Tokens

The HT DAO committee has taken action to rectify the situation, aiming to negotiate a refund and facilitate the destruction of Li Wei’s remaining HT tokens.

We plan to engage with Li Wei to negotiate a refund and arrange for the destruction of his remaining HT tokens.

The HT DAO committee, responsible for the governance and decision-making within the HT DAO community, is stepping in to address what Sun describes as an imbalance in token distribution. The committee plans to engage with Li Wei directly to discuss a potential refund and arrange for the destruction of the HT tokens he still possesses.

Sun emphasized that this course of action is driven by the principles of justice and fairness, as well as the best interests of the HT DAO community as a whole.

Earlier, in March 2023, the U.S. Securities and Exchange Commission leveled multiple charges against Sun over unregistered offer and sale of Tron (TRX) and BitTorrent (BTT) tokens.

Coingape reported about denial of his selling some stakes in the exchange, early April. He is also accused of breaking anti-fraud and market manipulation regulations.

Read Justin Sun Selling Huobi Stake..

It is important to note that while the tweet provides insight into the intentions and plans of the HT DAO committee, additional details regarding the specific actions, negotiation process, and timeline for resolution are not provided.