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 This tactic makes traditional address-based sanctions screening ineffective, as static blacklists quickly become outdated. Unlike other sanctioned entities, HTX continues operating openly under the same brand, signaling confidence in avoiding enforcement impact. This case highlights the limitations of current sanctions methods and underscores the need for behavior-based tracking to effectively monitor sanctioned crypto activities.
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...
