Data from Tronscan shows that Justin Sun’s address minted $815 million in TUSD on the Tron blockchain.
Starting at 11:45 AM, $815 million in TUSD was minted to the Tron blockchain through a series of 10 transactions.
Each mint is sent to a new address, which then immediately sends the funds to the Huobi 2 hot wallet. Prior to these transactions, the last time TUSD was minted to Tron was 7 days ago.
Shortly after these deposits, approximately $815 million in TUSD from the Huobi 2 address was sent to an address managed by Justin Sun, which was subsequently transferred to an unmarked minterproxy contract, which sent $865 million in TUSD to another address and burned.
The burning of TUSD happened to coincide almost exactly with the minting of stUSDT, with $865 million worth of stUSDT being minted to Sun’s address through 10 transactions, and Sun depositing stUSDT into the Tron-based lending platform JustLend through six transactions.
Deposits currently account for half of Sun’s $1.5 billion JustLend position, according to Tronscan data.