On Monday, Tron founder Justin Sun tweeted that he had arranged for a full refund of a $56 million transfer to exchange platform Binance following the latter’s warning against a potential token grab of the new SUI token.
After a significant transfer in TrueUSD (TUSD) was flagged by Whale Alert early Monday, Binance CEO Changpeng Zhao took to Twitter to warn Sun that his platform would take action if he used any of the funds to buy up large amounts of SUI tokens from Binance’s Launchpool. “Binance LaunchPools are meant as air drops for our retail users, not just a few whales,” Zhao explained. Sun responded to Zhao’s post, claiming that his team was not fully aware of the funds’ “intended purpose,” which he claims is to “facilitate market-making between leading TUSD exchanges, thereby enhancing liquidity and trading volume, rather than participating in any exchange promotions.” “Upon realising this error, we immediately contacted the exchange team and arranged for a full refund of the funds,” Sun said in a tweet.