Houbi Rumors Allege Massive BTC, LTC Losses, Official Statement Released

Chinese Bitcoin giant Huobi stirred up a hornet’s nest of rumors when it began circulating last night on social media

Golden Bitcoin digital currency background with DOFChinese Bitcoin giant Huobi stirred up a hornet’s nest of rumors when it began circulating last night on social media outlets that the exchange had lost a significant amount of customer assets.

Where there is smoke there usually is fire, and in the case of these rumors centering on Huobi there appears to be some merit. According to a recently released statement by Weibo, Huobi has in fact lost 920 BTC and 8,100 LTC on the night of September 24. While this does raise some cause for concern, investors can take solace in the fact that the actual figures pale in comparison to rumored figures, which alleged losses of 5000 BTC and 50,000 LTC.

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According to the official Houbi statement on the cryptocurrency loss, “last night, our customer service made a mistake when processing users’ withdrawal requests. This error led to 920 BTC and 8,100LTC being wrongly deposited to 27 users’ accounts. After the safety department received an alarm, the system was locked. The finance department investigated. Currently: 1, The withdrawal has resumed; 2, We have already contacted multiple users who returned 880 BTC and 5400 LTC. We apologize for the disturbance that we caused.”

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