Justin Sun Reportedly Selling Stake In #HuobiExchange .

Justin Sun is in discussion with potential investors to sell some stake in Huobi Global crypto exchange, but he denies.

#dyor #crypto2023

🩸🩸HTX exchange witnessed massive withdrawals🩸🩸

The HTX exchange, previously known as Huobi and linked to crypto entrepreneur Justin Sun, witnessed a massive $256 million withdrawal shortly after resuming operations following a significant hack in November. This significant outflow, occurring between November 25th and December 10th, underscores lingering concerns among investors regarding the platform's security.

The November hack resulted in the loss of $30 million in crypto tokens, prompting HTX to temporarily suspend withdrawals and deposits. Although the exchange pledged to investigate the incident and fully compensate for hot wallet losses, the community remains skeptical and closely monitors the situation's evolution.

Further fueling suspicion is Justin Sun's association with Poloniex and Heco Bridge, both of which suffered hacks in November, leading to a combined loss of $200 million. These successive security breaches have raised concerns about a possible "exit scam" within the cryptocurrency community.

Adding to the complexity, the TRX token launched by Sun is currently under investigation for fraud by the Securities and Exchange Commission (SEC). This ongoing investigation further complicates HTX's already precarious situation.

With an average daily trading volume of $1.6 billion, HTX's security and integrity are under intense scrutiny. The discovery that a significant portion of its reserves comprises Bitcoin and TRX further increases anxieties.

Despite recovering $8 million of the stolen funds in September, HTX remains vulnerable as hackers still control the $30 million taken in the recent breach. This situation highlights the critical importance of robust security measures and transparency in the ever-changing world of digital assets.

The cryptocurrency community remains vigilant as the situation unfolds, emphasizing the need for constant vigilance and proactive efforts to ensure the security and stability of the digital asset ecosystem.

#BinanceTournament #JustinSun #CryptocurrencyTheft #cryptocurreny #HuobiExchange

Huobi and Gala Games files a lawsuit against pNetwork

◾Huobi provided $pgala users $25 million in cash and equity equivalent compensation.

◾Gala Games also provide $25 million equivalent in node compensation.

#HuobiExchange #Gala #cryptomarket #pNetwork

Bitcoin withdrawals and deposits have resumed on Justin Sun-linked crypto exchange HTX, formerly Huobi, after experiencing a $30 million hack last week.
#HuobiGlobal #HuobiExchange #HTX #Crypto #Cryptonews230