Looks like Justin Sun isn’t exactly thrilled about Bloomberg’s plans to expose his crypto holdings. In fact, he’s so upset, he’s gone ahead and filed a federal lawsuit against the media giant. According to Sun, Bloomberg is about to break its promise of confidentiality by publishing specific details of his crypto portfolio, details that could apparently expose him to "significant risk of theft, hacking, kidnapping, and bodily harm."
Filed Monday in Delaware federal court, Sun’s lawsuit seeks to block Bloomberg from revealing these precious crypto numbers that Sun allegedly shared only to verify his wealth for Bloomberg's Billionaires Index. You know, the one that ranks the world’s 500 richest folks. Bloomberg assured him they’d keep this info under wraps. So much for that.
Apparently, Sun was pretty hesitant about handing over his crypto data, but Bloomberg's reporter, Muyao Shen, convinced him by promising it would be “strictly confidential.” Spoiler alert: It wasn’t. Now, Sun wants a judge to tell Bloomberg to keep its hands off his wallet, literally.
Confidentiality Promises? Who Needs 'Em?
The complaint, first reported by crypto researcher Molly White, claims that if Bloomberg publishes the exact crypto amounts, Sun could be exposed to risks like being hacked or even worse, kidnapped. Yes, kidnapped. According to Sun’s legal team, crypto transactions are "irreversible," and if he gets scammed or coerced, well, tough luck, there’s basically no way to get his money back. So much for a "secure" digital currency world.
Justin Sun has filed a lawsuit against Bloomberg, claiming they plan to “recklessly and improperly disclos[e] his highly confidential, sensitive, private, and proprietary financial information,” obtained while to verify his assets for the Bloomberg “Billionaires Index”. pic.twitter.com/wLKpfIBVL5
— Molly White (@molly0xFFF) August 13, 2025
The case stems from a conversation back in February 2025, where Bloomberg reportedly approached Sun’s team about including him in their exclusive list. Initially, Sun was reluctant, probably because of his "substantial" crypto holdings. But after receiving assurances that his financial details would be safe, he relented. I guess "substantial" is just an understatement when your net worth is mostly tied up in crypto.
The Art of Keeping Your Wallet Address Secret
In a move that I’d call "too good to be true," Sun claims Bloomberg told him that the information he provided wouldn’t leave the building. A Bloomberg journalist named Tom Sloan supposedly reassured Sun’s team on Telegram, saying only a handful of people would have access to his wallet details, just a few engineers and the reporting team. Nice try, Tom. But after all this, it looks like Sun isn’t buying it.
Sun's legal team also points out that other billionaires in the index don’t get their crypto holdings broken down into exact numbers. Instead, their crypto is lumped together in "vague" amounts or based on public statements. So why does Justin Sun deserve such scrutiny, huh?
Wrench Attacks: Not the Kind of Attention You Want
Here’s where it gets extra intense. Sun’s legal team warns that exposing his wallet addresses could make him a target for "wrench attacks," a term coined for physical violence used to force crypto transfers. Bloomberg itself has reported on such attacks, where victims have been physically harmed to make them hand over their digital assets. There’s even been a case in Uganda where a crypto founder was forced to transfer $500,000 at gunpoint. So yeah, maybe this whole publishing-wallet-address thing isn’t such a good idea after all.
And to add some cherry-on-top drama, Bloomberg allegedly plans to release Sun’s information "imminently," which has only made things worse. Now, Sun wants a jury trial and, of course, is looking for court costs and attorney fees to be covered. Because why not add a little more to the tab, right?
Jordan V.
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
