Justin Sun's HTX 'Rotating' On-Chain Wallets Amid UK Sanctions: TRM Labs
HTX, sanctioned by the UK in May for alleged links to Russia-related sanctions evasion, has rapidly rotated its deposit and hot wallets across TRON, Ethereum, BNB Smart Chain, and Solana, according to TRM Labs. TRM says the exchange has “rebuilt its on-chain plumbing,” making address-based screening quickly obsolete because new wallets appear within hours. It describes this as a “continuous moving target” and says effective monitoring now requires tracking HTX’s behavior rather than static addresses. TRM compared HTX’s adaptation to other sanctioned crypto actors, including Garantex, but noted HTX kept the same brand while changing wallet infrastructure. The UK’s sanctions currently bind UK-regulated firms, since HTX has not been designated by OFAC or the EU. HTX says the wallet activity is routine security operations and rejects any sanctions-evasion claim. The exchange has also disputed that the sanctioned entity is the same as the online platform.
