Australian Energy As...

Australian Energy Assets Caught in $700 Million Crypto Dispute as Techteryx Wins Global Freeze

By José Oramas November 18, 2025 In Australia, Stablecoins, TrueUSD

TrueUSD Cryptocurrency Coin Global Laptop Trade Background — Source:AdobeStock

TrueUSD operator Techteryx froze nearly $700M of Aria Commodities’ assets via a Dubai court order.
Techteryx alleges Aria misused $456M of TUSD’s reserve funds meant for trade finance, calling the diversion “blatant misappropriation.”
The court found evidence of “blatant misappropriation and money-laundering” and froze assets, including Australian wind and solar projects, while Aria’s manager denied the claims.

Techteryx, operator of the TrueUSD stablecoin, has secured global freezing orders on nearly US$700 million (AU$1.08 billion) in assets tied to Dubai-based Aria Commodities, following allegations that the firm misused funds intended for trade finance investments.

According to a report from the Financial Review, the orders were issued by Dubai’s Digital Economy Court after Techteryx argued that Aria’s assets risked being sold. Court documents list Australian holdings among the frozen assets, including wind and solar projects in Queensland.

Aria also advanced US$150 million (AU$230 million) to its Australian arm for grain purchases and supplied an additional US$2 million (AU$3.1 million) for a port development on South Australia’s Eyre Peninsula.

“None of the defendants, including the fund, had given any explanation for any need to transfer substantial sums to some offshore accounts of an offshore entity. The diversion of funds and transfers were blatant misappropriation and money-laundering,” the Dubai court stated.

A $450M Shortfall

Techteryx invested US$456 million (AU$705 million) in 2020 into the Aria Commodity Finance Fund, a Cayman Islands vehicle managed by Matthew Brittain. Techteryx alleges the money was diverted to a similarly named fund managed at the time by Brittain’s wife, rather than placed into trade finance securities as promised.

In filings, the company claims Aria “was not a genuine fund” and that any investments made were inconsistent with its stated strategy. Brittain denies the allegations and says Techteryx has made false claims in court.

The missing reserves created a US$456 million (AU$705 million) shortfall on Techteryx’s balance sheet, preventing investors from redeeming TrueUSD. Justin Sun, founder of the Tron blockchain and backer of TrueUSD, supplied a bailout last year.

While Techteryx’s ownership structure remains unclear, the Dubai court found Sun played “a significant role in the running of the company.”

Sun and three affiliated companies previously faced fraud and market-manipulation charges from the US Securities and Exchange Commission (SEC), though the case was dropped in February.