Several problems of Huobi have surfaced after Mingxing Xu, the founder of OKEx, was arrested despite its success as one of three famous exchanges in blockchain industry with the other two being Binance and OKEx. As such, are these household names still trustworthy？ The answer can be found herein.
Huobi isnt effectively regulated in spite of a high rating on WikiBit, and its comment section is rife with exposures of its interrupted networks. Liquidation triggered by this operation hit nearly 330,000 traders at that time, the worth of which reached billions of dollars only within 24 hours.
Huobi at its early stage boasted reputation, providing satisfying services, smoothing transactions, and keeping assets safe as best as it could. However, since Lin Li disappeared and Jun Du took the exchange over, Huobi has been unscrupulously reaping profits by cutting off networks once a certain market occurs and recovering the access when it falls back so as to conceal what happened. Huobi has commonly performed these unscrupulous operations even if it is a first-class exchange.
As OKEx is deeply troubled while Huobi has carried out inaccessible networks several times, Binance is the only one that stays aloof at present. Therefore, it can be said that even famous exchanges cannot be fully reliable in investment dubbed zero-sum game.
As a reminder, please use WikiBit to search the information of exchanges, including regulation, rating, and reputation. Please make a decision based on a comprehensive evaluation!
