Huobi Exchange In Crisis As Collateral And Traffic Decline Raises Red Flags
Key Points:
- Huobi exchange has been experiencing a decline in collateral since 2020, with low Bitcoin, ETH, and USDT balances.
- Web traffic to Huobi decreased significantly from 30.2 million to 7.2 million (visits) between March and May 2023.
- Due to non-compliance, the exchange has been forced to shut down in many jurisdictions, leading to an uncertain future.
Huobi exchange faces challenges with declining collateral, low Bitcoin, ETH, and USDT balances, and reduced web traffic—uncertain future due to non-compliance.
Huobi, one of the largest cryptocurrency exchanges, appears to be facing significant challenges. The exchange has been experiencing a decline in collateral since 2020, and its Bitcoin balance has dropped from 410,000 BTC in 2022 to only 26,000 BTC at present, reported by Willy Woo. Additionally, its ETH and USDT balances have been flatlining.
Web traffic to Huobi has also taken a hit, falling from 30.2 million to 7.2 million in May 2023. The exchange has been forced to shut down in many jurisdictions due to non-compliance. Despite its top web traffic coming from Russia, India, Korea, and Ukraine, the exchange’s future looks uncertain.
Previously, the exchange has reportedly been facing some other obstacles. According to the report, the exchange suffered a major data leak that included OTC transaction information, user information, VIP user information, and technical infrastructure data. The leaked data is believed to have occurred between 2017 and 2021.
In addition to the data leak, X-Spot Co., Ltd., operated by Lin, filed a trademark infringement lawsuit against Huobi Global Ltd in the High Court of the Hong Kong Special Administrative Region. The indictment alleged that X-Spot Limited has exclusive rights to the “火币 ” trademark, which Huobi Global Limited has been using without X-Spot’s authorization. The two parties’ equity transfer and asset delivery agreement stipulates that the buyer is prohibited from using the “火币 ” trademark and brand.
These issues have raised concerns about Huobi’s future. Whether Huobi can turn things around and regain its position as a leading cryptocurrency exchange remains to be seen.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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Huobi Exchange In Crisis As Collateral And Traffic Decline Raises Red Flags
Key Points:
- Huobi exchange has been experiencing a decline in collateral since 2020, with low Bitcoin, ETH, and USDT balances.
- Web traffic to Huobi decreased significantly from 30.2 million to 7.2 million (visits) between March and May 2023.
- Due to non-compliance, the exchange has been forced to shut down in many jurisdictions, leading to an uncertain future.
Huobi exchange faces challenges with declining collateral, low Bitcoin, ETH, and USDT balances, and reduced web traffic—uncertain future due to non-compliance.
Huobi, one of the largest cryptocurrency exchanges, appears to be facing significant challenges. The exchange has been experiencing a decline in collateral since 2020, and its Bitcoin balance has dropped from 410,000 BTC in 2022 to only 26,000 BTC at present, reported by Willy Woo. Additionally, its ETH and USDT balances have been flatlining.
Web traffic to Huobi has also taken a hit, falling from 30.2 million to 7.2 million in May 2023. The exchange has been forced to shut down in many jurisdictions due to non-compliance. Despite its top web traffic coming from Russia, India, Korea, and Ukraine, the exchange’s future looks uncertain.
Previously, the exchange has reportedly been facing some other obstacles. According to the report, the exchange suffered a major data leak that included OTC transaction information, user information, VIP user information, and technical infrastructure data. The leaked data is believed to have occurred between 2017 and 2021.
In addition to the data leak, X-Spot Co., Ltd., operated by Lin, filed a trademark infringement lawsuit against Huobi Global Ltd in the High Court of the Hong Kong Special Administrative Region. The indictment alleged that X-Spot Limited has exclusive rights to the “火币 ” trademark, which Huobi Global Limited has been using without X-Spot’s authorization. The two parties’ equity transfer and asset delivery agreement stipulates that the buyer is prohibited from using the “火币 ” trademark and brand.
These issues have raised concerns about Huobi’s future. Whether Huobi can turn things around and regain its position as a leading cryptocurrency exchange remains to be seen.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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