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Dubai court freezes $456m linked to alleged crypto reserve theft
Khaleej Times
|December 03, 2025
A Dubai court has frozen more than $456 million (Dh1.67 billion) in assets worldwide in what is believed to be the first case involving the alleged diversion of funds meant to back a cryptocurrency ‘stablecoin’.
In a landmark decision made public in October, the DIFC’s Digital Economy Court issued an indefinite worldwide freezing order against Dubai-registered Aria Commodities DMCC and any banks or entities holding the disputed funds or assets purchased with them.
The order, signed on October 17 by Justice Michael Black, prevents the $456 million and any proceeds linked to it from being moved or concealed anywhere in the world. It is the DIFC Courts’ first global freeze in a cryptocurrency-related matter and carries penalties, including fines or imprisonment, for anyone who breaches it.
The case revolves around TrueUSD (TUSD), a stablecoin designed to maintain a fixed value of one US dollar. To do that, every TUSD in circulation must be backed by real dollars held in reserve.
This story is from the December 03, 2025 edition of Khaleej Times.
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