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Jul 22, 2026

HTX Crypto Exchange Rapidly Rotating Wallets Across Multiple Blockchains to Evade UK Sanctions, TRM Labs Reports

Blockchain intelligence firm TRM Labs reports that cryptocurrency exchange HTX has been systematically rotating its hot wallets and deposit addresses across four blockchains since UK authorities imposed sanctions on the platform in May 2026, making sanctions enforcement more difficult.

Jul 22, 2026·9 sources
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Top claims

  • ▪British authorities suspected Huobi Global S.A. provided financial services to Kremlin-linked payments business A7 and sanctioned Russian crypto exchange Garantex.
  • ▪The UK Foreign, Commonwealth and Development Office sanctioned Huobi Global S.A., the company behind HTX, on May 26, 2026, over its alleged role in helping Russia evade financial restrictions.
  • ▪An HTX spokesperson rejected TRM Labs' claims, stating the wallet rotations reflect routine, security-driven platform operations common across the cryptocurrency industry.

Topics

Crypto exchangesCrypto Sanctions ComplianceSanctions evasionCrypto privacy & surveillanceCrypto regulation
Blockchain interoperability

Related entities

United Kingdom

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