Huobi Exchange Outflows Increase Despite Firm Denying Executive Arrest Rumors
Data from CryptoQuant, an onchain data provider, indicates a significant increase in bitcoin funds outflows from Huobi Global in the past day — a development that comes as the firm has issued a public denial about rumors of an arrest of one of its executives.
In a tweet thread posted November 2, Huobi said that rumors about "the arrest of a Huobi senior executive by local officials" are "false."
"All of Huobi’s management team members have been accounted for and have not been detained or arrested," the firm said. "We understand that the spread of false information can lead to concerns about the safety of user assets, but please rest assured your assets are safe."
According to CryptoQuant, the outflow increase peaked after midday on Monday. CryptoQuant highlighted the development in an earlier tweet showing that net outflows had 'soared in the past 8 hours'
