Seems all these CEX’s are using the same chunk of capital as “reserves”

According to this tweet, Huobi released the asset snapshot of their asset reserve, 10,000 ETH was transferred from 0xca…c3fc (Huobi 34) to Binance and OKX deposit wallets. The Huobi 34 had 14,858 ETH at the time of the snapshot, but now has only 4,044 ETH left.

Makes you really wonder if the recent Crypto.com transfer to Gate was really a mistake or just another fraudulent activity being cloaked as a mistake.

Seriously, it might sound boomer-ish with the way it always gets hammered on but don’t trust these exchanges. They’re just like every other company only concerned about how they can milk you to the very last drop rather than the safety of your funds. It really took this bear market for me to start taking that advice seriously.

Edit: Here’s the etherscan link to the Huobi 34 wallet