Justin Sun Calls $56M Token Transfer to Binance an ‘Oversight’, Requests Full Refund – Decrypt
Founder of Tron Justin Sun has apologized to Binance CEO Changpeng "CZ" Zhao after the latter warned followers that Sun could use Binance's Launchpool platform to farm giant amounts of a new blockchain token called Sui.
CZ took to Twitter this morning after news broke that Sun had transferred $56 million to the exchange, warning him that Binance would take action against it if Sun then uses the funds to acquire Sui tokens on Launchpool.
The tweet that caught CZs eye came from the @whale_alert bot, an account that tracks large blockchain transactions.
CZ went on to explain that Binances Launchpool platform is intended for retail users (individual investors, as opposed to institutions) and not just for a few whales. Launchpool lets Binance users farm new project tokens and acquire rewards by staking tokens like BNB and dollar-pegged stablecoin TrueUSD (TUSD) in staking pools on the platform.
Sun replied to CZ twenty minutes later with an apology, explaining that the transfer was due to an oversight stemming from TRON DAOs market making partnership with TUSD and was emphatically not an attempt by him to hoard Sui tokens.
He also shifted the responsibility for the transfer onto team members [that] were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns.
In the same tweet, Sun claims the DAO has arranged a full return of the funds with Binance.
CZ has yet to tweet an update on the situation. Binance did not immediately respond to Decrypt's request for comment.
A Tron spokesperson toldDecrypt that the $56 million refund has been executed.
The Sui network is a layer-1 blockchain created by Mysten Labs, a startup that was founded by former executives of Metas crypto division.
Its a proof-of-stake blockchain built using the open-source Move programming language, which was originally developed for Metas abandoned Diem crypto project.
If this all sounds familiar then its because its pretty much the same pitch as Aptos, another recently launched newcomer Layer-1 blockchain developed by former Meta crypto experts.
Suis mainnet is slated to go live this Wednesday at 12pm UTC. Binance is facilitating the launch by making Sui the 33rd project to debut on its Launchpool platform.
Snapshots of both users and pools balances are taken every hour and rewards are calculated each hour too; customers can unstake their funds at any time. The total farming period will run for two days after the launch of Suis mainnet.
When Suis liquidity meets Binances requirements, the exchange will then list the token under the SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs.
So far, users have staked nearly ten million BNB (over $3 billion) in Suis BNB Launchpool and half a billion over in TUSDs pool.
See the original post:
Justin Sun Calls $56M Token Transfer to Binance an 'Oversight', Requests Full Refund - Decrypt
- Binance Charity Donates 200,000 USD to Support Vietnams Flood Relief and Recovery - Binance - November 24th, 2025 [November 24th, 2025]
- HUGE NEWS: $XRP Banking Breakthrough Could Be the Biggest Crypto Move of 2025 - Binance - November 24th, 2025 [November 24th, 2025]
- Binance, the world's largest virtual asset exchange, was accused of violating the "anti-terrorism la.. - - November 24th, 2025 [November 24th, 2025]
- Baby Shark Universe Trading Competition: Trade Baby Shark Universe (BSU) and Share $500K Worth of Rewards - Binance - November 24th, 2025 [November 24th, 2025]
- Binance Adds Swiss Franc to Banking Triparty & Extends Zero-Fee Window for Institutions - Blockster - November 24th, 2025 [November 24th, 2025]
- Binance founder Changpeng Zhao accused of approving payments to Hamas - TechNext.ng - November 24th, 2025 [November 24th, 2025]
- Victims of Hamas 2023 attack on Israel sue Binance for allegedly allowing payments to militants - The Straits Times - November 24th, 2025 [November 24th, 2025]
- Bitcoin Crash Unwind: Whats Behind the Price Drop? - Binance - November 24th, 2025 [November 24th, 2025]
- PayPay Launches Crypto Trading Integration With Binance Japan as Regulatory Scrutiny Intensifies - Yellow.com - November 24th, 2025 [November 24th, 2025]
- XRP and ISO-20022: Renewed Debate Over Misinformation - Binance - November 24th, 2025 [November 24th, 2025]
- Expert Says Absolutely Nothing Happened to XRP as ISO 20022 Officially Goes Live - Binance - November 24th, 2025 [November 24th, 2025]
- THE GREAT INVERSION Sam Altman just admitted what Wall Street refuses to price in. - Binance - November 24th, 2025 [November 24th, 2025]
- Binance Academy and Injective Launch a New Course on Blockchain Use in Web3 Finance - Binance - November 24th, 2025 [November 24th, 2025]
- Ethereum Faces Triple Shock as Binance Outflows, Liquidations, and Support Loss Hit at Once - Coinpaper - November 24th, 2025 [November 24th, 2025]
- YourExpertPro(@Square-Creator-120d90ab8542)'s insights - Binance - November 24th, 2025 [November 24th, 2025]
- THE $200 MILLION LIE: What Really Happened November 21st - Binance - November 24th, 2025 [November 24th, 2025]
- MENA Exclusive: Welcome & Earn Start Trading to Receive Up To 330 USDT in Rewards - Binance - November 24th, 2025 [November 24th, 2025]
- Floki Announced As Bronze Sponsor For Binance Blockchain Week 2025 Dubai - CoinCentral - November 24th, 2025 [November 24th, 2025]
- Market Strategist: Is XRP Done. Heres What It Means - Binance - November 24th, 2025 [November 24th, 2025]
- CZ Denies Binance Return Plans, Emphasizes Ongoing U.S. Scrutiny - CoinCentral - November 20th, 2025 [November 20th, 2025]
- Deposit Alpha Tokens to Binance Alpha 2.0, Share the Alpha Token Reward Pool! (2025-11-20) - Binance - November 20th, 2025 [November 20th, 2025]
- Binance Square: Complete Tasks in the CreatorPad to Unlock 1,890,000 BANK Token Voucher Rewards! - Binance - November 20th, 2025 [November 20th, 2025]
- 60% of the trading volume on Binance is on Altcoins - CryptoQuant - November 20th, 2025 [November 20th, 2025]
- Join the Discord AMA & Win Rewards: The ABCs of Binance Earn - Binance - November 20th, 2025 [November 20th, 2025]
- Promotion: Enjoy Up to 29.9% APR in Rewards on BABY Locked Products - Binance - November 20th, 2025 [November 20th, 2025]
- Bitcoin News: Bitcoin Slumps to $86K, Nearing Max Pain Zone but Entering Deep Discount Territory, Analysts Say - Binance - November 20th, 2025 [November 20th, 2025]
- Your 2025 End-of-Year Holiday Gift Guide With Binance Pay - Binance - November 20th, 2025 [November 20th, 2025]
- Ethereum Finally Back: Top Analyst - Binance - November 20th, 2025 [November 20th, 2025]
- Binance Earn Yield Arena: Earn Up to 29% APR With This Weeks New Limited-Time Offers! (2025-11-19) - Binance - November 20th, 2025 [November 20th, 2025]
- Binance and the New Era of Privacy Coins: A Deep Dive into Zcash's Future - OneSafe - November 20th, 2025 [November 20th, 2025]
- Level Up Your BNB Game: Convert & Subscribe to Binance Earn to Grab a 20% APR BNB Trial Fund Voucher! - Binance - November 20th, 2025 [November 20th, 2025]
- Binance Will Support the Neutron (NTRN) Network Upgrade - 2025-11-19 - Binance - November 20th, 2025 [November 20th, 2025]
- BNB Price Prediction: Binance Coin Targets $950 Rebound Zone - Brave New Coin - November 20th, 2025 [November 20th, 2025]
- Binance Records Just 0.007% Illicit Activity, the Lowest Among Major Crypto Exchanges - Coinpaper - November 20th, 2025 [November 20th, 2025]
- Bitcoin Overview - Read Until the End. - Binance - November 20th, 2025 [November 20th, 2025]
- From NVIDIA to Binance, selling shovels is the strongest business model. - - November 20th, 2025 [November 20th, 2025]
- BNB Price Prediction: Is Binance Coin Quietly Preparing for a Major Breakout? - openPR.com - November 20th, 2025 [November 20th, 2025]
- Will Binance coin break $1000 soon? Here's what experts are saying - The Economic Times - November 20th, 2025 [November 20th, 2025]
- Binance Still Channeling Millions in Illicit Crypto, New Probe Finds Are Trumps Rollbacks Impacting Oversight? - Yahoo Finance - November 18th, 2025 [November 18th, 2025]
- Trump Pardon for Binance CEO Was CorruptionFormer DOJ Pardon Attorney - Newsweek - November 18th, 2025 [November 18th, 2025]
- Binance to invest over $4 billion in America if it gets a refund after CZ pardon - CryptoSlate - November 18th, 2025 [November 18th, 2025]
- CZ says he will invest in the US if any of the $4.3B Binance settlement is refunded - Crypto Briefing - November 18th, 2025 [November 18th, 2025]
- Binance Will Add USD on Convert - Binance - November 18th, 2025 [November 18th, 2025]
- Word of the Day: Test Your Knowledge on Binance Pool to Unlock HOME Rewards! - Binance - November 18th, 2025 [November 18th, 2025]
- BlackRocks $2.5 billion tokenized money market fund gets boost with Binance tie-up - Fortune - November 18th, 2025 [November 18th, 2025]
- GAIB (GAIB) Will Be Available on Binance Alpha and Binance Futures (2025-11-19) - Binance - November 18th, 2025 [November 18th, 2025]
- BlackRocks $2.5B Tokenized Fund Gets Listed as Collateral on Binance, Expands to BNB Chain - CoinDesk - November 18th, 2025 [November 18th, 2025]
- Unpacking the Decline in Illicit Crypto Use: How Binance is Driving Industry-Wide Progress - Binance - November 18th, 2025 [November 18th, 2025]
- BlackRocks BUIDL Accepted as Collateral for Trading on Binance - Markets Media - November 18th, 2025 [November 18th, 2025]
- Binance Pay grows 1,700x, accepted by over 20 million merchants this year - Crypto Briefing - November 18th, 2025 [November 18th, 2025]
- Binance Adds USDT/USD and USDC/USD Spot Trading Pairs with Zero Trading Fee Promotion - Binance - November 18th, 2025 [November 18th, 2025]
- Binance Still Channeling Millions in Illicit Crypto, New Probe Finds Are Trumps Rollbacks Impacting Oversight? - CCN.com - November 18th, 2025 [November 18th, 2025]
- BlackRock Fund Offered on Binance Marks Shift in Crypto Plumbing - Bloomberg.com - November 18th, 2025 [November 18th, 2025]
- Binance to List COTI/USDC on November 18 - TradingView - November 18th, 2025 [November 18th, 2025]
- Market Pullback: How to Buy the Dip the Right Way? - Binance - November 18th, 2025 [November 18th, 2025]
- Best Crypto To Turn $500 Into $50,000? We Analyze Binance (BNB), OPTER And Cardano (ADA) - FinanceFeeds - November 14th, 2025 [November 14th, 2025]
- $1.33B Ethereum Whale Just Moved Another $120M USDT to Binance Details - TradingView - November 14th, 2025 [November 14th, 2025]
- Addressing Trumps Claims About the Pardon of Binance Founder - FactCheck.org - November 14th, 2025 [November 14th, 2025]
- Notice on New Trading Pairs & Trading Bots Services on Binance Spot - 2025-11-26 - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Research: From Shutdown Relief to Market Stress AI Cracks, Liquidity Shifts, and Crypto Volatility - Binance - November 14th, 2025 [November 14th, 2025]
- Planck (PLANCK) Will Be Available on Binance Alpha and Binance Futures (2025-11-13) - Binance - November 14th, 2025 [November 14th, 2025]
- Pieverse (PIEVERSE) Will Be Available on Binance Alpha and Binance Futures (2025-11-14) - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Futures Will Postpone the Launch of PLANCKUSDT Perpetual Contract - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Will Cease Support for Deposits of Galxe (GAL) via the Ethereum Network (ERC20) - 2025-11-19 - Binance - November 14th, 2025 [November 14th, 2025]
- Introducing Allora (ALLO) on Binance HODLer Airdrops! Earn ALLO With Retroactive BNB Simple Earn Subscriptions - Binance - November 14th, 2025 [November 14th, 2025]
- The 2025 CoinDesk Benchmark: The Exchange Industrys Health Check And Binances Leadership - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Alpha to Feature Planck Network (PLANCK) and Play Solana (PLAYSOLANA) This Week - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Will Add Lorenzo Protocol (BANK) and Meteora (MET) on Earn, Buy Crypto, Convert & Margin - Binance - November 14th, 2025 [November 14th, 2025]
- Extended 5% APR Boost on BFUSD in Binance Futures and Portfolio Margin - Binance - November 14th, 2025 [November 14th, 2025]
- Introducing Meteora (MET): Grab a Share of the 3,400,000 MET Token Voucher Prize Pool! - Binance - November 14th, 2025 [November 14th, 2025]
- Deposit Alpha Tokens to Binance Alpha 2.0, Share the Alpha Token Reward Pool! (2025-11-12) - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Launches Zero Fee Promotion on BNB/USDC, ZEC/USDC and Other USDC Trading Pairs for VIP 2 - 9 Users and Spot Liquidity Providers - Binance - November 14th, 2025 [November 14th, 2025]
- Heres Why $1B Stablecoin Inflow into Binance Means Another Buying Spree - Yahoo Finance - November 14th, 2025 [November 14th, 2025]
- This New AI Token Dropped 50% Despite Coinbase and Binance Listings - Yahoo Finance - November 14th, 2025 [November 14th, 2025]
- Binance Research on Key Trends in Crypto November 2025 - Binance - November 14th, 2025 [November 14th, 2025]
- BNB Smart Chain Trading Competition: Trade AT, BOS and COMMON to Share $1.6M Worth of Rewards - Binance - November 14th, 2025 [November 14th, 2025]
- Bitcoin (BTCUSDT) Completing Corrective Wave C - Binance - November 14th, 2025 [November 14th, 2025]
- Binance Lists Allora (ALLO) as 58th HODLer Airdrop with 15M Tokens Backing BNB Earn Subscriptions - CryptoNinjas - November 14th, 2025 [November 14th, 2025]
- BREAKING SCIENCE SHOCK: Harvard astrophysicist Avi Loeb warned the UN: - Binance - November 14th, 2025 [November 14th, 2025]
- BlackRocks Head of Crypto Knows Something About XRP - Binance - November 14th, 2025 [November 14th, 2025]