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The reason behind Huobi BTC’s non-transparency

As previously reported, due to the delay in updating HBTC related information from Huobi Global on its website. This has led some media to question the transparency of Huobi Global.

Information quickly spread and a representative from Huobi Global officially explained the reason for this delay:

“HBTC is a Bitcoin token wrapped on the Ethereum blockchain and introduced by Huobi Global. In order to enhance the trust of HBTC holders, we have gradually moved HBTC assets to Huobi Trust for digital asset custody. Huobi Trust also periodically provides proof of collateral for H-series assets. At the moment, there are 38970 BTC in custody, please visit Huobi Global official website for more information:“.

During the 9 years of operation, there has never been a case where Huobi Global’s customers have had their assets stolen or lost for any reason. Huobi Global always puts safety and security as the core foundation and top priority of its business. Huobi Global has been and will continue to provide the safest, most secure trading experiences to its customers thanks to its industry-leading risk management capabilities.

Currently, a total of 38970 HBTC have been issued on-chain, with a 100% return rate.

Huobi updated the reserves of BTC and HBTC
Huobi updated the reserves of BTC and HBTC