protos.com
Justin Sun-advised $HTX recently received $500 million worth of Tether ($USDT), which it quickly moved between addresses and then distributed to various non-$HTX addresses.
$HTX distributes a tool to help verify its proof-of-reserves process, and a review of that address shows that as of January 1, $HTX disclosed $696 million total $USDT. This was largely made up of $552 million $USDT-aETHUSDT — Tether lent on $AAVE — meaning $HTX only had approximately $145 million $USDT that wasn’t lent out.
That is until yesterday when it received $500 million directly from the Tether Treasury to TDToUxX8sH4z6moQpK3ZLAN24eupu2ivA4. This address was included in the $HTX proof-of-reserves but wasn’t previously listed on the proof-of-reserves document as a $USDT address.
Read more: Justin Sun-advised $HTX has redeemed 7,300 WBTC it did not disclose
The bulk of this, $400 million, was moved to TK86Qm97uM848dMk8G7xNbJB7zG1uW3h1n in four transactions.
These funds were then largely further distributed to TFTWNgDBkQ5wQoP8RXpRznnHvAVV8x5jLu, another $HTX address.
From here, the funds were sent to a variety of different addresses on TRON and seem to be no longer under the control of $HTX.
It’s not clear why this Justin Sun-affiliated exchange received such a large infusion of assets that were distributed so quickly or why such a large portion of $HTX’s liquid $USDT reserves are lent on $AAVE.