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There is evidence to suggest that users may be losing faith in the <a href="https://www.newsbtc.com/huobi-ht/htx-recommence-operations-after-temporary-halt-due-to-hack/" rel="nofollow noopener" target="_blank">crypto exchange HTX</a> (formerly Houbi). This comes on the back of <a href="https://www.newsbtc.com/huobi-ht/huobi-hacked-for-8-million-worth-of-eth-offers-hacker-5-bounty/" rel="nofollow noopener" target="_blank">significant security breaches </a>that the exchange has experienced in recent times.&nbsp; 
<h2 id="htx-sees-more-outflows-than-inflows">HTX Sees More Outflows Than Inflows</h2> 
Data from DefiLlama shows that HTX has seen over $200 million leave the exchange from a period dating from November 22 up until December 10. This is noteworthy because November 22 happens to be the time when the crypto exchange and blockchain protocol Heco Chain <a href="https://www.newsbtc.com/huobi-ht/htx-recommence-operations-after-temporary-halt-due-to-hack/" rel="nofollow noopener" target="_blank">were hacked</a>. This led to a loss of over $100 million in several assets. 
HTX had to halt its operations following the hack. Before it <a href="https://www.newsbtc.com/huobi-ht/htx-recommence-operations-after-temporary-halt-due-to-hack/" rel="nofollow noopener" target="_blank">resumed operations</a> back on November 26, the exchange had released a statement in which it 100% guaranteed that users’ funds were safe. However, that did little to alleviate the fears and concerns of users, as many have continued to withdraw their funds since then.&nbsp; 
The fears of these users are undoubtedly valid, considering that this most recent hack came just about 2 months after the <a href="https://www.newsbtc.com/huobi-ht/huobi-hacked-for-8-million-worth-of-eth-offers-hacker-5-bounty/" rel="nofollow noopener" target="_blank">crypto exchange suffered an exploit</a>, which initially led to a loss of about $8 million. The exchange’s security infrastructure was called into question then, even as Binance’s security team <a href="https://bitcoinist.com/cz-to-help-htx-track-stolen-funds/">stepped in to help</a> investigate and recover the funds. 
Meanwhile, the fact that the crypto exchange had halted its operations after the hack would have brought back memories of how things went downhill with <a href="https://www.newsbtc.com/news/major-reveals-from-the-ftx-bankruptcy-filing-whats-the-takeaway/" rel="nofollow noopener" target="_blank">crypto exchanges like FTX</a>. As such, many may simply be looking to avoid losing their funds in a similar fashion. One could also allude to the Justin Sun factor in all of this.&nbsp; 
Sun happens to be an advisor to HTX. Interestingly, Poloniex, a crypto exchange owned by the Tron Founder also happened to <a href="https://bitcoinist.com/poloniex-crypto-exchange-hacked/">suffer an exploit in November</a>. It lost over $100 million in the process. One could begin to imagine if these hacks are somehow related and happen to be a direct attack on Justin Sun. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/1UOXhb0I/" alt="HTX price chart from Tradingview.com (crypto Justin Sun)" width="3266" height="1530"> 
<h2 id="tron-still-standing-strong">Tron Still Standing Strong</h2> 
Despite the drawbacks Sun and the crypto exchanges he is associated with have faced, this has in no way affected <a href="https://bitcoinist.com/tron-daily-active-addresses-ethereum/">Tron’s adoption</a>. The network continues to see an impressive amount of users. Recently, it was <a href="https://x.com/sambitpattnaik8/status/1732782624979181927?s=20" rel="nofollow" target="_blank">announced</a> that over 200 million accounts have been created on the Tron network.&nbsp;&nbsp; 
<a href="https://x.com/Coin98Analytics/status/1733553992079487209?s=20" rel="nofollow" target="_blank">Data</a> from blockchain analytics platform Coin98 analytics also showed that Tron continues to maintain a leading position in the number of daily active users on the network. The majority of the transactions on the network are <a href="https://bitcoinist.com/tron-earns-96-74-million-revenue-usdt-transfers/">reported to be USDT transfers</a>, with many preferring the network because of its relatively cheap gas fees.&nbsp; 
Acknowledging <a href="https://bitcoinist.com/tether-cto-usdt-minted/">Tether’s role in this milestone</a>, Sun <a href="https://x.com/justinsuntron/status/1732289909007004088?s=20" rel="nofollow" target="_blank">gave</a> a special shout-out to the stablecoin issuer and its developers. He stated that 34,500,061 users on Tron, which represents 17.2% of all our users, now hold USDT.&nbsp;

Justin Sun’s HTX Sparks Bank Run Worries As $200 Million Exits The Exchange

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