Major Cryptocurrency Exchange Decided to Shut Down Its Chain: Users Need To Take Steps By 10 January To Avoid Loss Of Assets

Huobi’s Layer 1 blockchain HECO Network has announced its official sunset date, announcing that it will cease operations on January 15, 2025.

Launched on December 10, 2020, the HECO Network has served as a key component of the Huobi ecosystem, but will now transition HRC20 assets into the platform’s token, $HTX.

In a statement, HECO outlined the steps for users holding HRC20 assets, including HRC20ETH, HRC20TUSD, HRC20LINK, HRC20USDC, HRC20UNI, HRC20SHIB, HRC20HBTC, and HRC20USDT. Users need to deposit these assets to the addresses designated on HECODAO’s official website before January 10, 2025.

Deposited assets will be converted into points based on their price on November 10, 2024, with 1 USDT being equivalent to 1 point. These points will be linked to the wallet addresses linked to users’ HECO accounts.

After the deadline of January 10, 2025, all accrued points will be subject to final calculation and redeemed for $HTX tokens.

The process will be completed in 12 batches and users will receive $HTX tokens in the TRON network addresses provided during the redemption process.

*This is not investment advice.