Huobi imposes 24 hr crypto withdrawal delay to dampen speculation
Cointelegraph
Published Jul 02, 2021 05:44AM ET
Updated Jul 03, 2021 07:40AM ET
Huobi Global, currently the world's second-largest crypto exchange by daily traded volume, has introduced a 24-hour token withdrawal delay for all over-the-counter (OTC) trades.
The decision strikes a blow to all Huobi users, some of whom will moreover be prevented from withdrawing their tokens for as long as 36 hours if the exchange's assessment system judges them to be at particularly high risk. Huobi has said the move forms part of its attempt to “gradually introduce a number of risk control strategies encompassing a larger section of users." It adds that it expects the delay to "effectively avoid user losses caused by the inflow of risky funds and protect the safety of users' assets."
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Written By: Cointelegraph
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