Huobi Gets $209 Million Injection From Justin Sun, Blockchain Firms Say
- Sun-linked wallets moved USDT, Ether to Huobi, PeckShield says
- Huobi addressed speculation about its health on Monday
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Crypto entrepreneur Justin Sun transferred more than $200 million of digital tokens to his exchange Huobi Global, according to PeckShield and Arkham Intelligence, after its reserves fell sharply.
Blockchain security firm PeckShield said a crypto wallet it identified as linked to Sun, who calls himself an “adviser” to Huobi, transferred $200 million of Tether Holdings Ltd.’s USDT and $9 million of Ether to the platform. Sun denied making the transfer.