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Huobi Detected Transferring Over 10,000 ETH After Releasing Its Asset Snapshot

Soon after the Huobi exchange released its asset snapshot, a wallet address connected to the Huobi exchange was discovered, transferring 10,000 ETH to Binance and OKX deposit wallets.

The cryptocurrency community believes the exchange is trying to manipulate. Soon after it released its asset snapshot, a wallet address connected to the exchange was seen moving 10,000 ETH to Binance and OKX deposit wallets.

Wu Blockchain drew attention to the transactions on Etherscan as evidence that Huobi had shown 14,858 ETH in its most recent snapshot, however at the time of writing, that number had dropped to 600 ETH.

Source: Etherscan

Huobi has not yet responded publicly to the allegations made by the cryptocurrency community, Coincu will keep you updated as more details emerge.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.