HTX exchange, formerly Huobi Global, is rotating its hot wallets every few hours and moved $1.3 billion to an undisclosed third party following UK sanctions. This tactic complicates traditional sanction screening methods, which rely on static address lists, prompting calls for behavior-based detection. HTX's Bitcoin reserves have declined by 10% to 8,400 BTC since the sanctions. It remains uncertain if UK regulators will increase pressure on HTX after these developments.
After the UK sanctioned Huobi Global S.A., parent of crypto exchange HTX, for alleged Russian sanctions evasion, HTX responded by frequently changing its hot wallets across multiple blockchains. This tactic makes traditional address-based sanctions s...
Most major cryptocurrencies experienced price declines, with Bitcoin falling 1.41% to $65,588 and Ethereum down 1.20% to $1,917.73. Other coins like Binance Coin and Solana also saw decreases, while a few tokens such as RAIN and GRAM showed gains. Th...
Blockchain firm TRM Labs reports that crypto exchange HTX frequently changes its wallet addresses across multiple chains to avoid UK sanctions imposed on its parent company, Huobi Global, in May. TRM claims this tactic helps HTX evade static sanction...
