Media: Huobi’s top manager found himself …


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Media: A Huobi top manager found himself ...

Media: Huobi top manager finds himself at the center of investigative action

  • Huobi CEO allegedly at the center of the investigation

  • It remains unknown whether he is a defendant in the case or only as a witness.

  • The native token of the exchange has already collapsed by almost 8%

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Native Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More exchange Huobi plummets nearly 8% amid rumors that exchange’s chief executive is under investigation

Update. The official Twitter channel of the cryptocurrency exchange Huobi called the reports about the arrest of the top manager “false”:

Media: Huobi's top manager found himself ...


The executive director of the Huobi cryptocurrency exchange Robin Zhu turned out to be a defendant in the proceedings of the Chinese law enforcement agencies. This was announced by local correspondent Colin Wu. It remains unknown whether Robin is involved in the case or only as a witness..

Nevertheless, rumors have already affected the market capitalization of the native token of the Huobi Token (HT) exchange, which lost about 100 million USDT in a day..

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At the time of this writing, the price of the token is $ 3.82 (-7.96% per day). According to Huobi founder and CEO Jun Du, users’ cryptocurrency funds remain safe and the exchange does not stop withdrawals..

It is reported that Huobi’s top management flew to Beijing from Guizhou. In Guizhou itself, Huobi co-founder Leon Li, according to Wu, said he was not afraid of the regulator and was confident that he had not done anything illegal..

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Media: Huobi's top manager found himself ...

Star Xu, the founder of the OKEx cryptocurrency exchange, was also arrested in China in October. It is still unknown what kind of investigation Xu is undergoing. Then the arrest of the founder of the exchange led to the freezing of the withdrawal of all cryptocurrencies from OKEx. The very technical support of the exchange said that Xu “has nothing to do” with OKEx. According to the official announcement of the exchange, the decision to block the withdrawal of funds is associated with an investigation by law enforcement agencies.

Earlier, Huobi introduced its own mobile application for trading cryptocurrencies in the Russian market amid the blocking by Roskomnadzor of another major cryptocurrency exchange – Binance.

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