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HTX has denied orchestrating a series of small USDT transfers to addresses linked to other exchanges after users alleged the transactions were intended to trigger sanctions-related compliance checks.
The exchange said an internal review found no evidence that official accounts initiated a coordinated campaign. HTX is still investigating whether individual users, incorrect wallet attribution or misinterpretation of on-chain activity explain the transfers.
166 Small USDT Transfers Traced From HTX Hot Wallet
On-chain researcher 0xMoon traced about 166 small USDT outflows from HTX hot wallet 48 before the allegations spread. All 15 addresses receiving the 7.5 USDT transfers examined in the analysis were identified as Kraken deposit addresses, with none attributed to Coinbase.
Several recipients continued showing normal deposit and withdrawal activity afterward, suggesting the microtransfers did not automatically result in account restrictions. 0xMoon has previously had ties to HTX’s community. The exchange named the researcher its 2025 “Best Partner” and awarded 10,000 USDT for data analysis supporting the platform.
HTX said it checked operational wallets, deposit systems and testing environments after the reports emerged and found no evidence of an exchange-directed operation.
HTX Cites Kraken Users With Up to $4.2M in Restricted Funds
HTX said some users have had funds held by Kraken after transferring assets associated with the exchange. It said the largest known case involved about $4.2 million, although Kraken has not publicly confirmed that amount or disclosed how many customers are affected.
The exchange suggested some affected customers may have independently initiated small withdrawals to draw attention to their restricted funds. HTX said it neither authorized nor endorsed that activity.
Kraken has not publicly attributed the disputed transfers to a coordinated compliance-poisoning campaign.
EU Transaction Ban Involving HTX Starts August 23
The dispute comes days before an EU prohibition involving “HTX (HUOBI GLOBAL SA)” takes effect on August 23. EU operators will generally be barred from direct or indirect transactions with the listed entity under sanctions targeting financial channels accused of helping Russia circumvent restrictions.
Binance has said it will stop processing transactions involving HTX and 10 other listed crypto platforms from the same date.
The UK separately designated Huobi Global S.A. on May 26, listing HTX as a name variation and htx.com as a website. HTX has disputed that the designated legal entity represents its operating exchange.
HTX said its investigation remains open. The central question is whether customers initiated the withdrawals through normal exchange systems or whether some of the wallet attribution behind the allegations is incorrect.
