Business Daily Media

Men's Weekly

.

Huobi Issued a Declaration in Response to Numerous Public Concerns

SINGAPORE - Media OutReach - 30 January 2023 - Recently, controversy has once again arisen surrounding Huobi and Justin Sun (Yuchen Sun). Since Justin became a member of the Huobi Global Advisory Board, the exchange has made several notable marketing accomplishments, but it has also faced a few public relations crises.

In response to the recent spate of controversies, Huobi released an official statement.

Recent posts regarding staff layoffs at Huobi have indicated that the company has taken steps to block internal communication channels on DingTalk to prevent employees from speaking out. These posts also disclosed the extent of the reductions and the way they were implemented, as well as the fact that employees were compensated in stablecoin, highlighting a lack of empathy on the part of Huobi towards its employees.

Huobi has stated that workforce optimization is a measure that companies resort to during difficult economic conditions. The cryptocurrency industry, including Huobi, has seen a series of layoffs in response to the current market downturn. Layoffs are often implemented to safeguard the interests of most employees and ensure the viability of a company. Without such measures, the collapse of a company would result in harm to many individuals. Huobi's workforce optimization program has been reported to be more favorable compared to industry standards.

The implementation of any policies affecting all employees will be communicated through internal memos or emails. Communication channels between Huobi employees and the human resources department are consistently maintained and accessible.

Huobi has reported that certain accounts have been frozen due to their inability to conduct transactions in a normal manner and display of abnormal behavior. These accounts were observed to frequently trades in Huobi's new listing tokens, with rapid movement of assets in and out. Upon investigation, it was found that these accounts generated unusual profits and rapidly reversed their gains, consistent with the characteristics of market manipulation tactics known as "rat trading."

Huobi firmly maintains a stance of zero tolerance towards market manipulation tactics, such as "rat trading". Under the updated governance framework, the company will continue to conduct comprehensive audits, hold accountable those who are found responsible, and timely disclose relevant information. The strong enforcement measures against rat trading demonstrate Huobi's dedication to safeguarding the interests of its users.

Yuchen Sun, also known as Justin, stated in a tweet that with regards to security, Huobi has implemented a series of measures to secure users' funds, including the utilization of cold wallets. This helps mitigate the risk of cyber-attacks or theft of assets. In addition, Huobi employs multi-signature technology and trusted cloud computing to protect user assets, in addition to cold wallets. The use of multi-signature technology requires the involvement of multiple parties in initiating transactions or asset movement, thereby preventing unauthorized tampering.
Hashtag: #Huobi

The issuer is solely responsible for the content of this announcement.

News from Asia

Sun Life celebrates 14 wins at Bloomberg Businessweek Financial Institutions Awards 2025

Crowned prestigious “International Insurance Company of the Year – Excellence Award” and “MPF Provider of the Year (Investment Sector) – Excellence Award” for the first time HONG KONG SAR - Media ...

Enjoy ‘A Summer More Colorful at Galaxy Macau’ with Playful Parties, Thrilling Live Shows, and more!

A summer of outstanding entertainment awaits at the award-winning integrated resort, from vibrant poolside attractions to unmissable world-class concerts MACAU SAR - Media OutReach Newswire – 24 J...

Key Findings from the "Hong Kong Vitiligo Patients and Caregivers Survey" Released for "World Vitiligo Day"

Patients Demonstrate Significant Knowledge Gaps in Treatment Options, Leading to Lost Hope and Treatment Discontinuation Over 70% of Vitiligo Patients Desire Skin Repigmentation; New Topical Ther...

Linyi to explore business opportunities at RCEP expo

LINYI, CHINA - Media OutReach Newswire - 24 June 2025 - The 4th RCEP (Shandong) Import Expo will be held in Linyi, Shandong, from June 27 to 29. This year's event focuses on high-quality imported ...

The 3rd Wave Music Awards Conclude Successfully in Beijing, Highlighting Quality Creation and Revealing 35 Honors

BEIJING, CHINA - Media OutReach Newswire - 24 June 2025 - On June 19, the 3rd Wave Music Awards – Honor Ceremony concluded splendidly at the Beijing Performing Arts Center. Initiated by the Wave M...

Hong Kong Genome Institute and Global Leaders Co-organise Landmark Healthcare Event "International Genomic Medicine Symposium"

Convening Experts to Promote Hong Kong and Advance Medical Innovation HONG KONG SAR - Media OutReach Newswire - 25 June 2025 - Genomic medicine is one of the most promising fields in today's healt...

The Tourism Authority of Thailand (TAT) Launches ‘Be My Guest’ Campaign to Spotlight Thai Soft Power on Global Stage

Running from 26 June to 1 July, the campaign features two key initiatives—Soft Power Fam Trip and Rhythm of Thailand—uniting global creators to spotlight Thai culture, creativity, and sustainable t...

Wildberries Expands Educational Platform for Marketplace Sellers

MOSCOW, RUSSIA – Media OutReach Newswire – 25 June 2025 – Wildberries, a leading e-commerce operator in Eurasia, is actively expanding its free educational platform that empowers small and medium ...

Porsche Design Tower Bangkok Offers a Culinary Voyage into Iconic Living

STUTTGART, GERMANY / HONG KONG SAR - Media OutReach Newswire - 25 June 2025 - Porsche Design Tower Bangkok hosted an exclusive dinner event in a private estate villa in Hong Kong, offering esteeme...

So Drama! Entertainment and FLY Entertainment Announce Strategic Partnership

SINGAPORE - Media OutReach Newswire - 25 June 2025 - So Drama! Entertainment (So Drama!) and FLY Entertainment (FLY) have entered a strategic partnership to elevate media and entertainment...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Tackling the skills shortage — why L&D is failing and what to do about it

The Australian economy is in a tough spot right now, and a huge part of the problem is a massive skills shortage. Late last year, businesses were st...

How reducing revenue leakage could help your business stay in the black in FY2026

It’s time to stop legacy revenue management platforms and processes draining your profitability. Is boosting the bottom line an overarching goal ...

Technical Debt Stifling Path to AI Adoption for Global Enterprises

Outdated legacy technologies costing organisations the ability to innovate, money, time and potentially, even customers Technical debt and an ov...

Sell by LayBy