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Twitter speculation that cryptocurrency exchange Huobi laid off employees and cut off internal communications prompted the community to advise users to withdraw funds, but the exchange’s advisers denied the rumors. Did.
on January 5th TweetHuobi adviser Justin Sun said of the bankruptcy rumors that the exchange’s business development is “good” and that “the security of users’ assets will always be fully protected.”
Sun also seems to have dismissed speculation about disgruntled employees, saying that Huobi “fully respects the legal demands of local employees.”
On January 3, cryptocurrency journalist Colin Wu reported that Sun had changed Huobi employees’ salaries from fiat to being paid in Tether (USDT) or US Dollar Coin (USDC). Staff who disagreed with the policy could be fired.
Justin Sun’s HR department has been in touch with all Huobi employees to change their pay structure from fiat currency to USDT/USDC. Unacceptable employees may be terminated. The move sparked protests from some employees. Exclusive https://t.co/QB4sjDyHc7
— Wu Blockchain (@WuBlockchain) January 4, 2023
Wu previously reported, citing insiders, that Huobi was preparing to cancel year-end bonuses and cut up to half of its 1,200 staff in December 2022.
Wu said the move to switch payroll payments from fiat to stablecoins sparked protests from some employees.
A January 4th Tweet The Twitter account BitRun claimed that the exchange’s “internal employee communication group” was closed and “all employee communication and feedback channels” were blocked.
BitRun added that it did not rule out rebellion that Huobi employees could “directly steal user assets or programmers would add backdoor Trojans,” adding that the practice was “domestic.” It is not protected by law,” he said.
Related: ‘The old money almost ran away,’ says Huobi co-founder on challenges of running $400 million VC fund
Based in Seychelles, Huobi has offices in Hong Kong, the United States, Japan and South Korea. The company is listed on the Hong Kong Stock Exchange.
The ominous warning was enough for one Twitter user. Claim Huobi “seems to be collapsing in real time,” while others suggested users withdraw funds from the exchange due to rumors.
If you use Huobi
Consider withdrawing assets until the FUD is blownNegative comments and accusations against Huobi are rife on Twitter.
It has not been verified, so please do your own due diligence and risk management accordingly.
— RossStephenson.eth (@magicross7) January 6, 2023
According to CoinGecko data, Huobi Token (HT) is down about 7% in 24 hours.
Huobi did not respond to a request for comment by Cointelegraph at the time of publication.
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