Funds originating from HTX (Huobi)

[OmegaStarScream]

I just came across this tweet from FixedFloat:

⚠️ Important Update

Due to recent sanctions-related developments involving Huobi/HTX, our compliance procedures have been updated accordingly.

As a result, funds originating from Huobi will be suspended by our service and will be subject to additional verification.

We strongly recommend ensuring that the source of funds and originating addresses are not associated with sanctioned entities or addresses before initiating a transaction.

Thank you for your understanding.

I'm guessing these are the sanctions in question:

https://www.coindesk.com/business/2026/05/26/uk-sanctions-huobi-and-ruble-stablecoin-issuer-in-crackdown-on-russia-crypto-networks

I just thought I should share this, something to keep in mind when dealing with people you don't know. I imagine more exchanges will follow the same footsteps (if they have not already).

[noorman0]

You were a little late in warning,

All cex must have done it, now is the time for a wave of action from instant exchange types that implement AML policies. Although I would have to laugh if fixedfload had to warn this now, because... this delay is not without reason.

[examplens]

In such cases, I am more interested in what type of additional verification will be done when the funds originate from Huobi. Are 100% of coins with HTX subject to being frozen and confiscated or is there a clearly defined target that users are at risk of.
As far as I understand, this regulation primarily applies to users from Russia, or, judging by FF, all HTX users are subject to this measure.

[dkbit98]

I just came across this tweet from FixedFloat

I am not surprised at all to hear this coming from FixedFloat, they have no spine, and they are ''famous'' for freezing customer coins.
Don't be surprised if you soon hear the news about FixdFloat being hacked again with bunch of coins stolen. 

[OmegaStarScream]

In such cases, I am more interested in what type of additional verification will be done when the funds originate from Huobi. Are 100% of coins with HTX subject to being frozen and confiscated or is there a clearly defined target that users are at risk of.
As far as I understand, this regulation primarily applies to users from Russia, or, judging by FF, all HTX users are subject to this measure.

Well, I don't see this happening at 100% of the time whenever you deal with someone who have delt with HTX, otherwise that would create total chaos. After all, HTX is one of the largest exchanges out there and accounts for a good portion of the global trading volume.

For "additional verification". I imagine that would depend on the user's claim. If you claim you sold something to someone (who delt with HTX), you have to back that claim up by showing receipts, forum post, or whatever you have depending on the situation.

[OmegaStarScream]

So after the UK, the European union is now sanctioning the exchange as well: 

https://decrypt.co/374245/eu-names-justin-suns-htx-in-russia-sanctions-two-months-after-uk

Although I'm not sure I understand the exact meaning behind this statement when it comes to the users dealing with the platform directly or undirectly:

Listed under its operator, Huobi Global SA, the exchange was placed on an EU annex of firms "significantly frustrating" its Russia sanctions, triggering a transaction ban from August 23 but no asset freeze.

[examplens]

So after the UK, the European union is now sanctioning the exchange as well: 

https://decrypt.co/374245/eu-names-justin-suns-htx-in-russia-sanctions-two-months-after-uk

Although I'm not sure I understand the exact meaning behind this statement when it comes to the users dealing with the platform directly or undirectly:

Listed under its operator, Huobi Global SA, the exchange was placed on an EU annex of firms "significantly frustrating" its Russia sanctions, triggering a transaction ban from August 23 but no asset freeze.

This is probably part of the big sanctions package that was activated these days.
Some other (as yet unnamed) services are also on the list
https://www.htx.com/id-id/feed/community/21176323/?comment=1

[OmegaStarScream]

An update of this: It has been reported that HTX and in talks with the FCA to reach for a settlement[1]

Binance has also announced today that they're no longer going to be processing transactions involving HTX (among other platforms[2]). Effective the 23rd of this month.

[1] https://beincrypto.com/htx-fca-settlement-uk-users/
[2] https://www.binance.com/en/support/announcement/detail/af2be67dc03c4673b4f56c42db948253

[examplens]

An update of this: It has been reported that HTX and in talks with the FCA to reach for a settlement[1]

Binance has also announced today that they're no longer going to be processing transactions involving HTX (among other platforms[2]). Effective the 23rd of this month.

[1] https://beincrypto.com/htx-fca-settlement-uk-users/
[2] https://www.binance.com/en/support/announcement/detail/af2be67dc03c4673b4f56c42db948253

HTX breaks down. For everything that happens, they take funds from the users without any special explanation. Yes, it is incredible, but there are still those who send coins to this exchange.
I don't see how they will survive all this if the coins coming from there are mostly marked as tainted.

https://bitcointalk.org/index.php?topic=5590509.0

[JeromeTash]

I guess Justin Sun' shady empire is now finally starting to crumble. I used to love HTX during the old days when it was still Huobi before it rebranded, but once Justin Sun touched it, it turned into complete shit.

I don't see how they will survive all this if the coins coming from there are mostly marked as tainted.

It doesn't come as a surprise. Every exchange Justin touches goes down.

[sunsilk]

An update of this: It has been reported that HTX and in talks with the FCA to reach for a settlement[1]

Binance has also announced today that they're no longer going to be processing transactions involving HTX (among other platforms[2]). Effective the 23rd of this month.

[1] https://beincrypto.com/htx-fca-settlement-uk-users/
[2] https://www.binance.com/en/support/announcement/detail/af2be67dc03c4673b4f56c42db948253

A perfect timing for Binance and despite that they're quite big already, another competitor bites the dust.

It doesn't come as a surprise. Every exchange Justin touches goes down.

This is true. His group backed poloniex as well and its popularity from before has dramatically went down.

It still operates this day but it's far already from its former glory.

[RGBTC]

Binance has also announced today that they're no longer going to be processing transactions involving HTX (among other platforms[2]). Effective the 23rd of this month.

If Binance views this as an opportunity to capture users, I do not think Binance should freeze deposits that were not sent directly from HTX; doing so would limit the options HTX customers have for switching platforms.

[NotATether]

It's a clown show.

First it was Huobi and the other exchanges doing the asset freezing and shotgun KYC, and now they are freezing each other's deposits

They are eating each other alive.

Fixedfloat doing this of all services is touché.

I personally couldn't give less of a damn, as long as my AML checker works and lets me sleep at night