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Justin Sun Tagged Wallets Transfer $2.5M in Altcoins to Binance and Huobi
  • Wallets allegedly belonging to Justin Sun transferred over $2.5 in crypto to CEX.
  • Tokens include CRV, GAL, DYDX, and Huobi’s native HT token.
  • The transfers come after the exchange received claims of increased withdrawals and staff layoffs.

The alleged crypto wallets of Tron founder Justin Sun transferred $2.7 million worth of cryptocurrencies to two different centralized exchanges.

According to a tweet from blockchain security firm Peck Shield, one wallet sent $891,000 in CRV, $38.9,000 in GAL, and $1.6 million in DYDX to Binance, while the other address transferred $181. 000 dollars in HT in Huobi.

HT is the native token of Huobi and Sun owns a majority stake in the popular exchange. In October, he joined the company’s board of directors as an advisor. Huobi is the fourth largest crypto exchange in the world, with over $370 million in 24-hour trading volume. Over the past few months, the Singapore-based company has been hit with cash flow issues, withdrawals and now downsizing.

Mainly affected by the ongoing crypto winter and the recent collapse of FTX, in early January Sun transferred $100 million worth of its stablecoins from Binance to Huo…

The post Justin Sun-tagged wallets move $2.5 million in Altcoins to Binance and Huobi appeared first on Coin Edition.

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