On April 4, Sun Yuchen issued an article again accusing FDT of suspected fraud. It said: First Digital Trust (FDT) blatantly ignores all fiduciary obligations and regulatory norms and claims to manage the US$501.8 million securities portfolio of Aria Commodity Finance Fund on behalf of Techteryx in its own legal name. Under the Hong Kong Securities and Futures Ordinance (SFO), any individual or company providing securities portfolio management services must hold a Type 9 license from the Hong Kong Securities and Futures Commission, unless the service is limited to its wholly-owned subsidiary or provided by its 100% controlling parent company. Obviously, the FDT is not only ignoring the basic norms of the trust industry, but also blatantly flouting Hong Kong's legal provisions on banking and investment. In other words, his actions have completely despised Hong Kong's regulatory agencies and law enforcement agencies. In addition, Sun Yuchen believes that FDT has not only been in negative assets, but has also had negative net assets for three consecutive years. As of the end of 2024, its net assets were negative HK$100 million. This does not include the huge losses caused by its large-scale misappropriation of user assets. Even so, it can now openly hold billions of dollars in public assets on the market. Previously, First Digital responded that it would take legal action against Sun Yuchen's "smear behavior."