To everyone in the HTX community concerned about the recent news, I’d like to clarify the situation and reduce unnecessary panic and misinformation.
First, this is a relatively common compliance review process. We are actively communicating with all relevant parties to resolve misunderstandings as quickly as possible.
HTX also sees this as an opportunity to further strengthen our compliance and risk-control systems, helping the platform become even more resilient.
At present:
Platform operations are normal
User assets remain secure
Deposits, withdrawals, and trading are functioning normally
There is no need for excessive concern.
For users asking what they should do right now, there are two options:
1️⃣ Do nothing
You may simply wait while we complete communications with relevant parties and resolve the situation.
HTX has operated for 13 years and has weathered multiple market cycles and industry challenges. We remain fully committed to protecting user assets and platform security.
Our support team and I will continue to be available 24/7 to assist users.
2️⃣ If you still feel uncomfortable, you may temporarily withdraw assets on-chain
Deposits and withdrawals are currently operating normally, and users are free to make their own decisions.
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What happened?
On May 26, the UK Foreign Office announced a new round of Russia-related sanctions under The Russia (Sanctions) (EU Exit) Regulations 2019.
The list included 18 crypto-related entities and individuals, including a company named “Huobi Global S.A.”
According to the UK statement, this entity allegedly provided financial services and technical support to the Russian exchange Garantex and the A7 crypto payment network.
However, there is one very important point many people misunderstand:
“Huobi Global S.A.” is not the same thing as the HTX exchange platform used by global users today.
Many people equate a brand name with a legal operating entity, but global businesses often operate through multiple legal entities across different jurisdictions for compliance purposes.
So:
Sharing a similar brand name does NOT mean sharing the same legal entity, operational structure, or asset system.
The HTX platform used by users today operates independently under its own structure.
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Why users should not panic
1️⃣ The sanctions target a specific legal entity
This is not a “brand-wide sanction.”
The UK sanctions apply to a specific listed entity and do not automatically extend to all businesses using similar branding.
The practical impact is also mainly limited to the UK financial and regulatory system.
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2️⃣ The sanctions mainly affect relationships inside the UK financial system
This may include:
Restrictions involving UK financial institutions
Suspension of payment or intermediary relationships
Asset-related measures within UK jurisdiction
But this does NOT mean:
Global user assets are frozen
HTX has stopped operating
Users cannot trade or withdraw funds
At this time, the platform continues to operate normally.
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Why did the situation escalate so quickly?
Some third-party blockchain security providers applied broad risk labels to related wallet addresses in a “one-size-fits-all” manner.
This affected certain normal user transactions and created unnecessary panic and speculation.
Our compliance, security, and legal teams are already communicating with the relevant parties, and we expect the issue to be resolved soon.
We understand the community’s concerns and will continue to communicate transparently.
If you have any questions, please feel free to reach out to us or our support team anytime.