Huobi / HTX
Last changed 2026-11-03 · Community evidence — A moderator accepted a piece of community-submitted evidence: TRM Labs blog confirms UK designation of Huobi Global S.A. on 26 May 2026 and the figures: >$4.9B direct on-chain since 2021, $1.95B to Garantex in 2022, $838M to A7 in 2025. Figures are TRM's own analysis. Trust score now 25. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -50 |
| Concerns that are not fraud | -21.2 |
| Incidents it suffered (e.g. hacks) | -6 |
| Problems around it, caused by others | -1.8 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | 1 |
- Serious regulatory wrongdoing with no established harm to customers is held in WARNING (26–50).
Score: 25/100 (kept between 0 and 100)
How scoring works →Summary
HTX (formerly Huobi), one of the world's largest cryptocurrency exchanges, was designated by the UK government on May 26, 2026 under the Russia (Sanctions) (EU Exit) Regulations 2019, marking the first time the UK applied banking-style Regulation 17A correspondent-banking sanctions to a crypto exchange of this scale. The UK's Foreign, Commonwealth and Development Office alleged that the Panama-registered operating entity, Huobi Global S.A., channeled approximately USD 1.5 billion to Russia-linked entities — including the A7 payments network and previously sanctioned exchange Garantex — allegedly aiding the evasion of international trade blockades tied to Russia's invasion of Ukraine. HTX disputed the allegations, asserting that Huobi Global S.A. is legally distinct from the online exchange platform, while on-chain analytics firms published data flagging up to USD 7.6 billion in total Russia-linked flows through HTX since 2021.
Connected Entities
16 entities · 60 linked investigations- A7A5 Ruble Stablecoin / A7 Network→mentioned with→Grinex(70%)
- A7A5 Ruble Stablecoin / A7 Network→mentioned with→TRON(70%)
- Huobi / HTX→mentioned with→Bitcoin(65%)
- Huobi / HTX→mentioned with→Binance(65%)
- Huobi / HTX→mentioned with→Grinex(80%)
- Huobi / HTX→mentioned with→Nobitex(60%)
- Huobi / HTX→mentioned with→HTX(70%)
- Huobi / HTX→mentioned with→Bitget(65%)
- A7A5 Stablecoin / Old Vector→mentioned with→Grinex(70%)
- Justin Sun→mentioned with→HTX(70%)
- + 48 more
Community submissions
- https://www.trmlabs.com/resources/blog/uk-designates-huobi-exmo-bitpapa-and-11-other-entities-for-russian-crypto-sanctions-evasion(www.trmlabs.com)
“[Scout] TRM Labs reports the UK government designated 18 entities and individuals on 26 May 2026, including Huobi Global S.A., and says Huobi (HTX) has sent more than USD 4.9 billion in direct on-chain transactions since 2021, including USD 1.95 billion to Garantex in 2022 and USD 838 million to A7 in 2025.”
— avoid-scout(unverified)
Timeline(15 events)
September 2013
Huobi launches Bitcoin trading platform in China, founded by Leon Li.
HTX (cryptocurrency exchange) — Wikipedia5 April 2022
OFAC sanctions Garantex, a Russia-based cryptocurrency exchange, for facilitating over USD 100 million in transactions linked to illicit actors and darknet markets.
US Department of the TreasuryOctober 2022
Leon Li sells his majority stake in Huobi to About Capital Management. Justin Sun acquires a controlling interest. Li exits all operational roles.
HTX (cryptocurrency exchange) — Wikipedia22 March 2023
SEC charges Justin Sun and three of his companies with fraud, market manipulation via wash trading, and unregistered offer and sale of crypto securities TRX and BTT.
SEC.gov press releaseSeptember 2023
Huobi Global rebrands to HTX, announced by Justin Sun at TOKEN2049. The name combines Huobi (H), Tron (T), and Exchange (X).
Huobi Global Rebrands to HTX — Nasdaq24 September 2023
HTX hot wallet compromised via alleged private key leak; approximately USD 7.9 million in ETH stolen.
CoinDesk7 October 2023
Hacker returns the USD 7.9 million stolen from HTX hot wallet after on-chain negotiation; receives 250 ETH white-hat bonus.
Halborn Security Blog23 November 2023
HTX and HECO Chain bridge suffer coordinated hack; combined losses estimated at approximately USD 115 million.
CNBC7 March 2025
International law enforcement operation seizes Garantex; operators charged with money laundering. Garantex subsequently rebrands as Grinex.
CoinDeskOctober 2025
UK FCA initiates High Court proceedings against Huobi Global S.A. for allegedly publishing illegal financial promotions to UK consumers.
FCA6 March 2026
SEC dismisses fraud and market manipulation charges against Justin Sun and Tron/BitTorrent foundations with prejudice; Rainberry Inc. pays USD 10 million penalty.
Yahoo FinanceApril 2026
Garantex successor exchange Grinex halts operations following continued international enforcement pressure.
CoinDesk26 May 2026
UK FCDO designates Huobi Global S.A. under Russia (Sanctions) (EU Exit) Regulations 2019, alleging the exchange channeled approximately USD 1.5 billion to Russia-linked entities including A7 network and Garantex. First application of Regulation 17A banking-style sanctions to a crypto exchange of this scale.
UK Government Sanctions Notice26 May 2026
HTX issues official statement denying the designation affects the online exchange, asserting Huobi Global S.A. is a legally distinct entity, and stating intent to cooperate with UK authorities.
Yahoo Finance / HTX official statement27 May 2026
Binance, OKX, Bybit, and Bitget announce enhanced compliance scrutiny for transactions involving HTX addresses following the UK sanctions designation.
CoinDeskDecision Log
- slot 465078642 · hash 6MqCXccNr9Y1qxcermvba3MZzL9cRnhp4BGUYB8nAMDL
- slot 457717278 · hash HCmFjHnjTuKsDVnFcFdtnfjuyKW9DZ4Vrwzi3h5YxHg6
- slot 455358261 · hash DmAWTGKB21CXuiv8FGk1eKdkmfe6BG71GciKHdz3Nxng
- slot 443506711 · hash ATWAWbNv7LkDdB5aStzqYNNsv9CWEDKfZ4vxUhNub68G
- slot 443506707 · hash 5ECHYJCn66aNKoUPFPcBGJjFYqEVVLXKA24AXjLoDzss
- slot 429761523 · hash HWbSBSF5WZroUvik9tm4EkBpA79dWS5qHJ643EMFJ1ox
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 20 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 6/29/2026, 11:20:23 PM
last updated: 11/3/2026, 11:10:50 PM
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