Huobi firmly safeguards user asset security and responds seriously to false claims about "declining assets"
TechFlow Selected TechFlow Selected
Huobi firmly safeguards user asset security and responds seriously to false claims about "declining assets"
As a digital currency exchange, Huobi adheres to the principle of putting users first, and safeguarding user funds is its primary responsibility.
Navigating Web3 tides with focused insightsRecently, some false claims about Huobi's "declining assets" have been circulating on social media. To prevent unnecessary user panic, Huobi is providing a necessary response based on data and facts.
Huobi has published its July Merkle tree proof of asset reserves on July 1. Currently, the total user assets on the Huobi platform exceed $3 billion USD.
Response to False Claims Regarding Huobi’s “Declining Assets”: Issue Originates from Outdated Third-Party Data Platforms
Since July 6, certain self-media influencers have spread inaccurate reports regarding “declining assets at Huobi.” In response, Huobi clarifies the following:
The media reports cited asset data provided by Glassnode. However, professional analysis shows that the data collected by Glassnode is inaccurate, with obvious omissions in wallet addresses, due to the following reasons:
1. Huobi completed an equity transfer on October 8, 2022, after which the primary hot and cold wallet addresses used for asset storage were changed;
2. Assets are distributed across multiple blockchains—for example, there are 400 million USDT on TRON, around 6,500 TRC20 BTC, and some ETH is staked as validator collateral. Glassnode has failed to update this information in a timely manner.
Currently, Huobi has proactively contacted Glassnode and requested necessary data updates.
It should be noted that since the end of November 2022, Huobi has voluntarily disclosed its main wallet addresses. After partnering with Nansen, Huobi shared relevant address information with Nansen. Any subsequent changes—whether due to shifts in major shareholders or system upgrades—have been synchronized with Nansen.
Nansen’s asset display page can be accessed here: https://portfolio.nansen.ai/dashboard/huobi
All users may view this data source directly.
As for certain influencers’ charts depicting Huobi’s asset trends, they set the historical peak as the highest vertical axis point, creating a misleadingly steep downward curve designed to intentionally provoke user anxiety.
In reality, this apparent sharp decline is not due to any compromise in platform security or user trust. Instead, it results from Huobi’s proactive withdrawal from certain markets—the changes in users and assets are normal and expected.
Since the beginning of 2023, Huobi’s overall trend has remained stable and upward, without any dramatic fluctuations.
Huobi’s Commitment to Asset Transparency Reflects High Industry Standards for User Asset Protection
As a digital currency exchange, Huobi upholds the principle of putting users first—protecting user funds is our top priority. Huobi maintains full transparency of its on-chain wallet assets, allowing users to verify at any time that their funds are backed 1:1 by real underlying assets.
Starting from early 2023, Huobi has consistently published monthly Merkle tree proofs of assets and made them publicly available. Currently, Huobi guarantees 100% redeemability of on-chain assets against user holdings. Users can directly access reserve details—including reserve ratios, Huobi wallet assets, and user assets—for BTC, ETH (including BETH), TRX, USDT, and HT via Huobi’s official audit page.
Asset proof verification link: https://www.huobi.com/zh-cn/finance/merkle/ .
The latest PoR (Proof of Reserves) covers six assets: BTC, ETH, BETH, USDT, TRX, and HT.
Huobi’s current reserve ratios:
USDT: 100%
BTC: 101%
ETH + BETH: 103%
HT: 103%
TRX: 103%
Moving forward, Huobi will continue to publish Merkle tree proofs of assets to the public, maintaining our user-first commitment and delivering professional, reliable digital asset trading services in accordance with the highest industry standards.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
