HTX TRX Tokens Flow into Poloniex Super Representative Address

Justin Sun's HTX exchange revealed a significant drop of approximately 700 million TRX in its proof-of-reserves (PoR) in June. At today's prices, these tokens are worth about $238 million. A substantial portion of these assets ended up flowing into an address supporting Poloniex's Super Representative, while some went to Binance.

The European Union and the UK Foreign, Commonwealth & Development Office have sanctioned HTX, making it crucial to understand where its funds are located. In the same PoR disclosure where it reduced TRX holdings, HTX also lowered its disclosure for over $1 billion worth of other assets, pointing towards an undisclosed 'ThirdParty' custodian.

Protos was able to track a significant portion of HTX's Ethereum reserves to Poloniex. It is speculated that Justin Sun might be mixing HTX's reserves with Poloniex. The article also mentions that in May, 700 million TRX from HTX were moved out of TAuUCiH4JVNBZmDnEDZkXEUXDARdGpXTmX (labeled as 'HTX-Cold 6') and sent to multiple other addresses.

Two hundred million tokens were sent to TPznYuGCgYSWW8boAnFVMvv3RhNKqFaVpL, which forwarded them to TFTWNgDBkQ5wQoP8RXpRznnHvAVV8x5jLu (labeled as 'HTX 4'). Of these 200 million tokens, 180 million were sent in two transactions to TEF9ZVUxhmGGffvkf59e2vdLfAG1QCMb7B (TEF9), an address that currently votes for Poloniex's Super Representative.