GET YOUR FUNDS OFF HUOBI NOW! Here's why Houbi could be THE NEXT CEX TO COLLAPSE

What is Huobi？

It was founded in 2013 in China and has since expanded its operations globally. Huobi allows users to buy, sell, and trade a wide range of cryptocurrencies, including popular ones like Bitcoin, Ethereum, and many others. Huobi Global was China‘s largest exchange before Beijing declared all crypto TXs illegal in 2021.That’s why it later moved to the Seychelles.

In August 2018, it became a publicly listed Hong Kong company currently valued at $3B. According to @coingecko,thats the 20th largest centralized exchange by daily volume with $240M+ traded over the last 24h.

So whats the problem？On August 6, Cinneamhain Ventures Founder @adamscochran accused Huobi of being insolvent

He also added that the Chinese authorities were auditing multiple of their core members according to “a senior executive at Tron who has first-hand knowledge of the investigation and has been at Tron for many years”

But what does Tron have to do with Huobi？!

@justinsuntron's acquisition.Well… Tron CEO Justin Sun acquired Huobi back in November 2022. Despite being its largest stakeholder, Justin advertises himself as a simple “Huobi advisor”

He has been accused for years of artificially inflating Tron‘s TVL to fool investors. That’s a pretty solid theory considering that the 4 protocols that account for 99.99% of the $5.6B Tron TVL all belong to Sun himself

Deeper down the rabbit hole

Justin could be using Huobi's user funds to inflate the TVL of his Tron blockchain further while risking the money of these people in the process. At least, that's what some suspicious transactions between Huobi and Justin's protocols suggest.

Justin obviously denied the facts and stated that Adam was just fudding his project. So who should we believe？ Adam's claim gained considerable credibility with Huobi's proof of reserve being outdated for over a month.

Lack of transparency IS STILL A MAJOR PROBLEM in our industry.Seems like we won't be able to fully unravel this story (until it's too late？) As long as things remain unclarified, keeping your funds away from Huobi might not be such a bad idea.