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

Chinese Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term giant Huobi stirred up a hornet’s nest of rumors when it began circulating last night on social media outlets that the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term 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.

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.”