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Huobi Responds to Allegations of Asset Decline with Merkle Tree-based Proof of Reserves

Huobi, a major global exchange, has responded to unfounded claims of a decline in assets circulating on social media. The exchange released a statement based on data and facts, confirming that the total assets held in custody for users exceed $3 billion.

The misleading claims stem from outdated data on third-party platform Glassnode, which failed to promptly update relevant data based on changes in Huobi's assets.

Huobi prioritizes the protection of user funds and maintains transparency through publicly available on-chain wallet assets and monthly updates of Merkle Tree-based proof of reserves.

Huobi Assets Social Media

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Huobi Responds to Allegations of Asset Decline with Merkle Tree-based Proof of Reserves

All Comments

Recommended for you

Shenyu: The widespread existence of blind signature issues provides hackers with opportunities to take advantage of, and the problem must be solved

US CFTC: Federal court was "wrong" to allow Kalshi to launch prediction market

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The head of the Financial Supervisory Service of South Korea: We are investigating various abnormal transactions including AVAIL on Bithumb

76% of 80 family offices and high net worth individuals in Asia are involved in digital assets, and another 18% plan to invest in the future

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Vitalik publishes new article on the future development of Ethereum protocol, key goals include achieving maximum L2 interoperability

Trump: Tariffs will boost U.S. economic growth

Huobi HK’s application for a virtual asset trading platform license submitted to the Hong Kong Securities and Futures Commission was withdrawn on February 23

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