Justin Sun’s Identified Wallet Funnels $100m Worth of Stablecoins to Huobi

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  • Two massive transfers of stablecoins in the threshold of $100million goes to Huobi from Justin Sun’s identified wallet, raising a red flag and justifying allegations he secretly acquired the exchange for himself.

The originator of Tron, Justin Sun is at the center of a brewing controversy over two simultaneous movements of 50 million USD each worth of stablecoins, from a wallet linked to him, into the coffers of the Seychelles-based cryptocurrency exchange, Huobi. The foremost blockchain security firm, PeckShield revealed this.

A viewer monitored it in this order: from Just Lend, an arm of Tron that handles lending, the funds went through Binance, and from Binance, it entered Sun’s wallet and finally, got to Huobi. Perhaps the main reason for this awareness is that Huobi, like several other exchanges (battling for their survival within the crypto sector at this critical moment), has been in the spotligh

Suspicion of Secret Ownership of Huobi
Some changes have already been effected within the company. These include a resolution to pay staff salaries in stablecoins, as against the traditional use of cash, and the dismissal of some of its workforce. All these corroborate the accusation that Sun purchased the exchange for himself using a proxy although he refutes this. The foregoing adjustments including speculations that in-house communication has been halted have started to affect the price of Huobi Token (HT), which lowered to $4.30 as against the initial price of $5.20 within two days.

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