I normally reserve this blog for more serious long-form articles, and this is going to be one of them but still super rambly. If anyone has been paying attention, you’ll have noticed by now that Justin Sun—the founder of TRON and the current Prime Minister of the micronation “The Free Republic of Liberland” (Liberland for short)—was in the spotlight back in October 2024. For those unaware, Liberland is a self-declared micronation located on the river near the Croatia–Serbia border, founded in 2015.

For full disclosure, I am an active member of the Liberland community and am working toward setting up an IT company there once the nation gains more formal recognition. Also, I don’t own any WLFI or other Trump-related tokens, aside from a small amount I was airdropped and have since abandoned.

Sadly, today I have to talk about the fact that Justin Sun’s investment in WLFI [World Liberty Financial] tokens was frozen, which caused significant unease. Some have claimed he owned 3% of the total token supply. I can’t confirm this, since only 24.669 billion of the 100 billion WLFI tokens are currently in circulation (if CoinMarketCap is to be believed). For all we know, he could have owned more privately.

At the time of writing this [5:33 AM EST – September 6, 2025], Sun’s tokens were still locked. He was credited with $178.24M USD on September 1, 2025, but after moving $9.03M USD on September 4, 2025, his funds were frozen and could no longer be transferred. I’ve seen countless debates online about why the funds were frozen and who was behind the freeze. I used Arkham Intel to track this

Some argue the freeze was tied to concerns about Sun’s connections to the crypto exchange HTX (which has offices in Hong Kong, South Korea, Japan, and the United States). Now, this is just speculation—I don’t see it as inherently negative. There’s no proof, only rumors, that he intended to dump the token.

Looking at the wallet, the only real indicator that it’s linked to HTX is that it was funded nearly a year ago by the exchange. Other than that, it appears to be labeled as the TRON DAO’s main wallet.

I can’t confirm whether this is suspicious, but I can confirm that something feels off. Why freeze his wallet specifically? Who are the other 270+ wallets that were frozen? Why are there so many high-value wallets with zero prior transaction history, at least based on the OSINT I’ve gathered from blockchain records? Something isn’t adding up, and it’s starting to bother me—I hope it bothers my readers as well.

And seriously who the hell is aqua1.eth? That account was only created on March 19th. I don’t know… but something about all this just doesn’t feel right.