Speculation on Twitter that crypto exchange Huobi has laid off staff and shuttered internal communications have prompted the community to advise users to withdraw funds, despite an adviser to the exchange denying the rumors. <\/p>\n
In a Jan. 5 tweet, Huobi adviser Justin Sun addressed rumors of purported insolvency, saying the business development of the exchange was \u201cgood\u201d and the \u201csecurity of users\u2019 assets will always be fully protected.\u201d<\/p>\n
Sun also seemingly brushed off speculation around disgruntled staff, saying Huobi will \u201cfully respect the legal demands of local employees.\u201d<\/p>\n
Earlier, on Jan. 3, crypto journalist Colin Wu reported that Sun changed Huobi employee salaries from being paid in fiat to being paid in either Tether (USDT) or USD Coin (USDC). Wu claimed thstaff who disagreed with the change could be laid off.<\/p>\n
Citing insiders, Wu reported in December that Huobi canceled year-end bonuses and was preparing to cut up to half of its 1,200 staff.<\/p>\n
The move to change the salary payment from fiat to stablecoins sparked protests from some employees, according to Wu.<\/p>\n
A Jan. 4 tweet from the Twitter account BitRun claimed that a \u201ccommunication group with internal employees\u201d at the exchange had been shut down and \u201call communication and feedback channels with employees\u201d were blocked.<\/p>\n
BitRun added they weren\u2019t ruling out a revolt by Huobi employees who could \u201cdirectly rug away user assets or programmers add backdoor Trojan horses\u201d claiming the practice was \u201cnot protected by domestic laws.\u201d<\/p>\n