Reports have filtered out from Hong Kong that some executives at crypto exchange Huobi have been placed under arrest. At the same time, corresponding reports indicate that Houbi has seen an outflow of funds that are valued at over $500 million.
In the past 24 hours, Huobi, one of the largest crypto exchanges in the world, has countered the negative news by calling it FUD.
In a blog post, Huobi said its “platform is operating as usual, as it should, and as it will” as it nears its ten year anniversary of operation.
Huobi states:
“Every year, the social media sitcom either declared #Huobi “dead” or Huobi personnel “caught,” this year is no different. While it saddens our heart to see part of our industry warm-bedding such bias, gloat, and sometimes hatred, we believe in the greater light and thus must stand firmer and more fiercely confront and defend ourselves and our industry against all the senseless accusations and defamations. We understand the road ahead is winding, but we are more determined than ever, because the industry need(s) people like us, people who believe in their mission in the blockchain space and stick to BUIDLing it no matter what. Say no to FUD, help each other, and always use our own judgement. Sometimes, some men just want to watch the world burn. To those folks, we say, we are different.”
Huobi did not address the reports of arrests in the blog post.
Meanwhile, some are claiming there is more to the worries than good old FUD.
Justin telling people to not worry about Huobi, meanwhile at the start of the claims of employees being investigated, he withdraw $60M from Huobi and started sending his assets to a Binance deposit wallet🤣
He wants you to have faith, but he doesn't. pic.twitter.com/dNYT13sw1y
— Adam Cochran (adamscochran.eth) (@adamscochran) August 7, 2023
In a series of Tweets (Xs) Cochran warned Huobi users they are going to “get badly wrecked when it comes crashing down.”
1/3
Huobi's current total balance is $2.5B
of which $662M is Tron,
$500M is HT,
$884M is BTC (which is supposed to also cover the $3B in BTC issued on Tron)
$168M is HBTCThis leaves $286M in other assets. pic.twitter.com/UeuOEKCxQH
— Adam Cochran (adamscochran.eth) (@adamscochran) August 6, 2023
Tron creator and Huobi “advisor” Justin Sun said to ignore the claims, as some pull their funds.
Ignore FUD, keep building! #TRON and #Huobi will thrive through continuous development. Trust in our vision and community efforts for a stronger future. Perseverance guarantees success! 🚀
— H.E. Justin Sun 🍌 (@justinsuntron) August 7, 2023
