Huobi was once again exposed after it was reported that the exchange still had $18.1 million in crypto that could not be recovered from FTX.

Reports from intelligence firm Wu Blockchain have stated that Huobi is unable to withdraw funds from FTX, with the total estimated value hovering around $18.1 million.

Continuing the incident, the exchange retweeted information related to the frozen funds.

This information once again made many users concerned about CEX exchanges after the event called FTX. In just a few days, its aftermath has left a serious impact on the market. Cryptocurrency companies, in turn, announced their exposure to the exchange that was once thought to be a competitor to Binance.

Recently, Huobi was also spotted transferring over 10,000 ETH after announcing its asset snapshot.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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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.

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News

Huobi Has $18.1 Million In Crypto Could Not Be Withdrawn On FTX

Huobi was once again exposed after it was reported that the exchange still had $18.1 million in crypto that could not be recovered from FTX.

Reports from intelligence firm Wu Blockchain have stated that Huobi is unable to withdraw funds from FTX, with the total estimated value hovering around $18.1 million.

Huobi’s Hong Kong-listed company announced that $18.1 million in crypto could not be withdrawn on FTX, of which $13.2m was customer assets. Controlling shareholder Li Lin will provide additional unsecured financing of up to $14 million, which will cover client balance sheets.

— Wu Blockchain (@WuBlockchain) November 14, 2022

Continuing the incident, the exchange retweeted information related to the frozen funds.

On Oct 8, Huobi's controlling shareholder company transferred all the shares of Huobi Global it holds to the fund of About Capital. New Huo Tech are independent entities. All ops of Huobi are normal, & we will continue to provide customers with safe & reliable services. https://t.co/JpzXvhHHtv

— HTX (@HTX_Global) November 14, 2022

This information once again made many users concerned about CEX exchanges after the event called FTX. In just a few days, its aftermath has left a serious impact on the market. Cryptocurrency companies, in turn, announced their exposure to the exchange that was once thought to be a competitor to Binance.

Recently, Huobi was also spotted transferring over 10,000 ETH after announcing its asset snapshot.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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