ZachXBT criticized the United Kingdom’s sanctions against HTX, considering them excessive. He believes that the consequences of the sanctions affected not only HTX itself. Problems have also started to arise for users who previously just used the exchange.
The main dissatisfaction is that not only the addresses of the platform itself are under suspicion. Checks are increasingly affecting wallets that have ever sent or received funds through HTX.
The controversy was triggered by the decision of the British authorities, who several weeks ago imposed sanctions against Huobi Global S.A., a company associated with HTX. The reason was suspicions of helping to circumvent restrictions against Russia. According to the British side, more than $1.5 billion in suspicious transactions passed through the company.
After this, problems also began for ordinary clients. Some users reported blocked funds and additional checks from crypto services.
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For example, the exchanger FixedFloat reported that it tightened verification procedures and can now suspend transactions with assets linked to Huobi addresses.
ZachXBT noted that previously, sanctions were imposed against platforms like Hydra or Blender, where a significant portion of operations was linked to criminal activity. In the case of HTX the situation looks different, since millions of regular traders use the exchange, especially in the Asian region.
In his opinion, this approach only complicates investigations.
“Now sanction tags are almost useless. Because of them, it has become much harder to distinguish truly suspicious activity from regular transfers,” the analyst wrote.
According to ZachXBT, the British authorities may have become too focused on the HTX case and missed another major story with suspicious transactions totaling $1.25 billion.
Meanwhile, exchange users have already started to take precautions. One HTX client said that many wallet owners are transferring funds to new addresses, fearing problems when working with crypto services in the future.
The second option usually passes checks better because it looks like a regular retelling of a person’s words, not an official news report.
The conflict around HTX is also fueled by the figure of Justin Sun, who has long been associated with the exchange.
Investigators believe that over the past few years, more than $4.9 billion in transactions have passed through Huobi , which are linked to circumventing sanctions against Russia.
Recently, attention to HTX increased even more after actions by World Liberty Financial (WLFI). The project blocked a number of addresses associated with the exchange, explaining this as an internal review.
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For WLFI this is not the first such case. Previously, the project had already blocked addresses directly linked to Justin Sun.
HTX responded rather harshly. The exchange delisted the USD1 stablecoin and automatically converted users’ assets to USDT at a one-to-one rate.
The company stated that the WLFI decision was made unilaterally and without prior discussion. Representatives of HTX also emphasized that the sanctions were imposed against Huobi Global S.A., not the trading platform itself.
Against this backdrop, the confrontation between structures associated with Trump and Justin Sun is only intensifying.
Despite all the disputes, the TRON ecosystem remains one of the largest in the industry. The network still processes about $1.1 billion in transactions daily. According to analysts, more than $21 billion in funds have passed through it in recent years, which various monitoring systems have classified as high-risk.
