Some interesting information about what happened and the nature of the problem:
Cryptocurrency exchange Huobi faced a major outflow from August 5 to 6 due to rumors of alleged bankruptcy, causing its TVL to drop by nearly $54 million.
Cryptocurrency analyst Adam Cochran published a post on X (formerly Twitter), which he later deleted. He claimed that some members of Huobi and Tron's management team had been questioned by Chinese police.
Cochran even published a list of names of people who may have been arrested.
Having conducted his own audit of the exchange, the expert came to the conclusion that the balance sheets of users total about $630 million. At the same time, he estimated the platform's reserves at only $90 million.
The missing funds, as Cochran suggested, are used to support the profitability of Tron, Poloniex and other DeFi applications, which are controlled by Justin Sun.
https://forklog.com/news/huobi-stolknulas-s-ottokom-sredstv-na-fone-sluhov-o-neplatezhesposobnostiThat is, not only the use of funds for personal enrichment, but also the misuse of funds to finance and support other projects of his own