HTX's Missing TRX Tokens Vanish into Poloniex and Binance
In June, HTX's proof-of-reserves revealed a significant drop in TRX tokens held at the exchange, totaling approximately 700 million. This represents about $238 million at current prices.
A substantial portion of these assets flowed into an address supporting Poloniex's Super Representative, while some went to Binance.
HTX has since been sanctioned by the European Union and the UK Foreign Office, making it crucial to understand the location of their funds. The exchange also reduced its disclosure for over $1 billion worth of other assets, pointing towards an undisclosed 'ThirdParty' custodian.
Protos tracked a large portion of HTX's Ethereum reserves to Poloniex, leading to speculation that Justin Sun might be mixing HTX's reserves with his own at Poloniex.