Justin Sun's HTX 'Rotating' On-Chain Wallets Amid UK Sanctions: TRM Labs
DECRYPT ·
A new report from blockchain intelligence firm TRM Labs says that crypto exchange HTX has kept operating under the same brand following UK sanctions, while rebuilding its on-chain infrastructure. HTX has rotated wallets across TRON, Ethereum, BNB Smart Chain, and Solana, creating a “continuous moving target for compliance professionals,” TRM Labs said. The exchange told Decrypt the activity reflects "routine, security-driven platform operations," and rejected any characterization implying otherwise. Crypto exchange HTX has rebuilt its underlying wallet infrastructure in the weeks since the UK sanctioned it , rotating deposit and hot wallets on a rapid cycle, blockchain intelligence firm TRM Labs said in a report Tuesday. The exchange has “rebuilt its on-chain plumbing,” TRM Labs said, with the result that address-list screening “cannot keep pace” The Office of Financial Sanctions Implementation designated Huobi Global S.A., the entity behind HTX, on May 26, the first time the UK applied the measure to a crypto exchange of that size. The package of sanctions targeted crypto exchanges and the "A7 network," which British authorities said was "used by Russia to evade existing restrictions" and channel funds to fuel its invasion of Ukraine. In the announcement, the UK government flagged HTX as a "major global cryptocurrency exchange" suspected of having channeled more than $1.5 billion to the Kremlin.
AI 시장 분석
According to blockchain analytics firm TRM Labs, cryptocurrency exchange HTX, owned by Justin Sun, is rapidly replacing its on-chain wallets amidst UK sanctions. This wallet rotation movement is interpreted as an attempt to evade regulatory scrutiny and could lead to a decline in the exchange's credibility. Investors should closely monitor related regulatory risks and the security of exchange assets.
하락 영향
- Cryptocurrency — Investment sentiment is shrinking and concerns over asset outflows are growing due to HTX's on-chain wallet rotation and UK sanction risks.
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