Justin Sun Denies Rumors of Huobi Staff Arrests

According to reports, several high-ranking executives, including CTOs and CHOs, of a certain exchange are under investigation by Chinese authorities for allegedly being involved in the operation of illegal gambling activities. Additionally, other exchanges are also under investigation, with the founder of a third-tier exchange also being targeted in a widespread probe. The investigation may be related to providing funding and settlement services for gambling websites and programs. Bitrace's on-chain data research indicates that over the past year, the funds transferred directly or indirectly to hot wallets of mainstream trading platforms for online gambling purposes have exceeded 7.6 billion USDT.

It's important to note that this information comes from a media outlet called “Techub NEWS,” which has relatively low credibility. However, it has been subsequently reported by a reputable Chinese media outlet called “wushuo,” leading to significant impact and attention.

Subsequently, news emerged that the exchange in question is HUOBI Global. As the news spread, a list of individuals who were allegedly arrested started circulating online.

According to the image, the list includes two legal representatives and two shareholders of Tron, including Justin Sun's parents, uncle, and stepmother. It also includes Tron's product manager and public chain technical staff, as well as HUOBI Global's CTO, HRBP, and two operations members. As of now, all of them have reportedly been arrested.

Justin Sun took to his personal Twitter to refute the rumors and stated that everything is normal. However, he did not explicitly specify the details of the rumors he was addressing. He straightforwardly said, “Nothing happened.”

Due to the widespread dissemination of this event, HUOBI's Head of Social Media, Xie Jiayin, also responded to this on Twitter, describing it as a “FUD” (Fear, Uncertainty, Doubt) event.

Currently, the accuracy of the news cannot be determined. However, according to data from Nansen, the FUD event does not seem to have a significant impact on HUOBI's deposit volume. HUOBI exchange still holds over 3.2 billion USD in static reserves, and there have been no significant user withdrawals or runs on the platform following the FUD event.