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JinseFinanceUnless explicitly tagged and identified, it was impossible to track what wallets an exchange owns, or might own. As a result, the idea of Proof of Reserves (PoR) emerged.
BrianHTX, formerly Huobi, faces a significant crisis as over $256 million is withdrawn following a major hack, raising concerns about the exchange's security. The aftermath of the breach, coupled with Justin Sun's connections and allegations of fraud surrounding the TRX token, intensifies skepticism within the cryptocurrency community. Despite recovery efforts, HTX's integrity is questioned, prompting a call for robust security measures and transparency in the evolving digital asset landscape.
Huang BoHTX, the digital-asset trading platform associated with industry figure Justin Sun, witnessed a considerable $258 million net outflow following its reactivation after a significant security breach. Data from DefiLlama between November 25 and December 10 showcased the funds departing the exchange, signifying unease among some clients due to the prior security incident. HTX encountered a $30 million loss in crypto tokens during the breach, prompting temporary suspension of withdrawals and deposits as a precautionary measure.
JoyHTX, formerly Huobi Global, grapples with its fourth hack in two months, losing $30 million, raising concerns about the exchange's security despite reassurances from executives.
JasperThe practice of burning tokens has been a consistent strategy for Huobi since 2018, and as of October 15, 2023, a cumulative total of 301,002,441 HT has been burned.
JasperLeading crypto exchanges Huobi and KuCoin were among over 140 digital asset companies recently added to the UK Financial Conduct Authority's (FCA) warning list.
CatherineUsers won't have the protection of the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if issues arise.
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