THE:Huobi Calls for Crypto Exchanges to Improve Security and Transparency_OBI

Dearcolleaguesandclients,

Theentirecryptoindustryisinthemiddleofthemostseveretrustcrisiswehaveseeninyears.InthefaceofdoubtsanduncertaintiesinthewakeoftheFTXfallout,solidarityiswhatourindustryneedsthemosttoweatherthischallengingperiod.Beforewecanemergefromthiscrisisintact,whatallcryptoexchangesshoulddoisdemonstratetoeveryonehowweareprotectingourusers'assetsecurity.

Astheworld'stopvirtualassettradingplatformwithzeromajorsecurityincidentssinceourfoundingnineyearsago,Huobiisexperiencedandwell-positionedtoaddresssecurityissuesincludingbankruns.Tohelpovercomethistrustcrisisfacedbyourfellowindustrypeersandtopromotethelong-termdevelopmentoftheindustry,wearenowcallingforallcryptoexchangestoimprovesecurityandtransparencytogetherbyadoptingthefollowingmeasures:

Alwaysputthesecurityofourusers'assetsfirst.Everycryptoexchangeshouldprioritizethisprincipleoveranythingelse.IthasbeenHuobi'stopprioritytoprotectourusers'assets.Meddlingwithourusers’assetsisaredlinethatwewillnevercross.Ensurethattheassetsofusersarefullyredeemable.Weshouldalwaysguaranteetherightsandinterestsofouruserstosafelydepositandwithdrawtheirassetsanytimeandanywherewithoutrestrictions,andweshouldalwaysadheretoourcommitmenttoguaranteeingfullredemptionforourusers.Alwaysguaranteethesecurityofourwallet'sprivatekeyandmaintainthesecurityofourassetsrightfromitssource.Intermsofassetstorage,Huobiwalletusesmulti-signatureandthresholdsignaturetechnologytoensurethesecurityoftheprivatekeysignatureprocess,multi-personandmulti-sitebackuptoensuretheavailabilityofprivatekeys,andself-developedsecurityhardwaretoensuretherobustnessofstorage.PeriodicallymaketheMerkleTreeProofofReservesaudits.Asweknown,AboutCapitalhascompletedtheacquisitionofthesharesofHuobi'smajorshareholderinearlyOctober2022.Duringtheacquisitionprocess,ithasalsocompletedtheProofofReservesaudit.What'smore,Huobiwilldiscloseourtechnicalsolutionsandopensourcecodestothewholeindustryforfree,andprovidetechnicalconsultationforanyexchangewhoispreparingtogetstartedwiththeMerkleTreeProofofReservesaudit.Meanwhile,wewillcooperatewithacertifiedthirdpartytocompleteanothercryptographicMerkleTreeProof-ofReserveauditinthenextmonth.Adheretotheprincipleof"CommunityFirst,UsersFirst."Wealwayssafeguardtheinterestsofourusersandlistentothevoicefromourcommunity.AsthefirstrespondersoftheFTXissue,HuobiandTronDAOactedtogetherandannouncedtheexchangeofTrontokensandHTontheFTXplatformata1:1ratiotofullyprotectthebenefitsofHTholdersandTrontokenholders.Atpresent,wearestillinclosecommunicationwithFTXtospeedupfurtherwork.Huobihasalwaysbeenknownforandproudofourstrongsecurityandriskcontrolsystemsince2013.Asatoptradingplatformwiththelongesthistoryandthebestsecurityrecord,Huobihaspreviouslycreatedanindustryrecord,thatis,usershavefullyredeemedtheassetsworthoftensofbillionsofdollarswhenwewerediscontinuingservicesinsomecountriesandregions,andhasensuredtheusers’assetsecurityandprotectedtheirrightsandinterestsinthewholeprocess.Wecallforindustrypartnerstoimplementthesecurityandtransparencyinitiativeenmassetobuildupstrengthforbetterindustrydevelopmentinthefuture.

HuobiGlobal

November12,2022

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HuobiGlobalreservestherightinitssolediscretiontoamendorchangeorcancelthisannouncementatanytimeandforanyreasonswithoutpriornotice.TheaboveisforinformationpurposesonlyandHuobiGlobalmakesnorecommendationsorguaranteesinrespectofanyvirtualasset,product,orpromotiononHuobiGlobal.Pricesofvirtualassetsarehighlyvolatileandtradingvirtualassetsinvolvesrisk.PleasereadourRiskRemindertexthere.

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