This HTX review starts with the answer most readers need: HTX (formerly Huobi) is an offshore exchange that people in the United Kingdom, the European Union and the United States should treat as off-limits as of October 2026. The UK added Huobi Global S.A. to its sanctions list on 26 May 2026. An EU transaction ban naming “HTX (Huobi Global SA)” took effect on 23 August 2026. The US is on HTX’s own restricted list. Below we cover those measures, the 2023 hacks and the reserve reports, because the sanctions raise real legal questions for existing account holders.
Key takeaways
- UK: Huobi Global S.A. was designated under the UK’s Russia sanctions regulations on 26 May 2026. OFSI’s guidance says the HTX exchange remains subject to UK financial sanctions despite the name change.
- EU: the 21st Russia sanctions package, adopted on 23 July 2026, bars EU operators from transacting with HTX from 23 August 2026. It is a transaction ban, not an asset freeze.
- The UK Financial Conduct Authority (FCA) sued Huobi Global S.A. in October 2025 over illegal crypto promotions. The latest reporting, from August 2026, described the case as paused for settlement talks.
- HTX lost about $7.9 million in a September 2023 hot-wallet theft (later returned) and more in November 2023 hot-wallet and HECO bridge hacks.
- This article is not legal advice. Anyone with a UK or EU connection and an HTX balance should read the regulator’s guidance and take legal advice before acting.
HTX review: who may legally use it in October 2026
HTX is not licensed by the FCA, is not on ESMA’s MiCA register of authorised crypto-asset service providers, and does not serve US customers. Third-party summaries of its user agreement also list the US among restricted jurisdictions. Being outside those regimes is one thing. Being named in sanctions is another, and HTX now falls into the second category in two major jurisdictions:
| Jurisdiction | Status as of October 2026 | Source and date |
|---|---|---|
| United Kingdom | Sanctioned. Huobi Global S.A. was designated, and OFSI says HTX is covered through Huobi’s ownership. | UK Sanctions List, 26 May 2026; OFSI FAQ update, 2 June 2026 |
| United Kingdom (FCA) | Not authorised. On the FCA warning list since October 2023 and subject to High Court proceedings since October 2025. | FCA statement on HTX/Huobi legal proceedings |
| European Union | Transaction ban for EU operators (not an asset freeze) | Council 21st package, adopted 23 July 2026, effective 23 August 2026 |
| United States | Not served. Listed as a restricted jurisdiction. | HTX user agreement (restricted jurisdictions), per third-party summaries |
| Pakistan | Secondary reports list HTX among holders of a preliminary No Objection Certificate from PVARA. An NOC is not a licence. | Unconfirmed on PVARA’s own site. Check pvara.gov.pk. |
If you live anywhere else, check HTX’s current user agreement and your own regulator’s warning list. Our country-by-country crypto regulation overview is a starting point. Do not use VPNs or false residency details to get around restrictions. Doing so can breach the platform’s terms and, where sanctions apply, the law.
HTX at a glance, and the Huobi name change
Huobi was founded in China in 2013 and grew into one of the largest Asian exchanges before China’s 2021 crypto crackdown pushed it offshore. In September 2023, at TOKEN2049 in Singapore, the exchange rebranded as HTX to mark its tenth anniversary. TRON founder Justin Sun, then described as a member of the HTX Global Advisory Board, explained the name: “H” for Huobi, “T” for TRON, “X” for exchange. The official domain is htx.com. Type it yourself or use a bookmark, and never follow “HTX support” contacts that reach you by DM, because sanctions news tends to bring a wave of fake withdrawal-help offers.
The product range is broad: spot trading, perpetual futures, margin, earn products and a launchpad. The point of this review is that the product list matters less than the legal position. For context on exchange size and how HTX ranks, see our list of the largest crypto exchanges.
UK sanctions on Huobi Global: what they mean for HTX users
On 26 May 2026, the UK government designated Huobi Global S.A., a Panama-incorporated company, under the Russia (Sanctions) (EU Exit) Regulations 2019. It was one of 18 crypto exchanges, payment providers and individuals named that day for their alleged role in Russia’s use of digital assets. Bloomberg Law reported that the UK accused the group of helping move about $1.5 billion for the Kremlin.
HTX responded that the listed company is separate from its online exchange and that it received no prior notice or evidence. On 2 June 2026, however, the Office of Financial Sanctions Implementation (OFSI) updated its FAQs to say the rebrand does not change the position. HTX remains subject to UK financial sanctions because of Huobi’s ownership, under regulation 7(2)(a).
In practical terms, UK persons generally must not deal with funds or economic resources owned or controlled by a designated person, or make funds available to them, without an OFSI licence. That can include depositing to, trading on or simply moving assets through the exchange. Withdrawing your own balance may itself need a licence. Do not assume. OFSI’s guidance on gov.uk and a sanctions lawyer are the right sources, and breaches can carry civil or criminal penalties.
The FCA’s separate case
Separately from sanctions, the FCA began High Court proceedings in October 2025 against Huobi Global S.A. and “persons unknown”. It was the regulator’s first court action against a crypto exchange over marketing. The FCA seeks an injunction and a declaration that HTX breached section 21 of the Financial Services and Markets Act by promoting crypto to UK consumers through social media without approval. In February 2026 the court allowed the FCA to serve the claim outside the UK. Reporting from August 2026 said the parties were in settlement talks, with the case paused until late August. We found no published outcome. Check the FCA’s own statement page for the current position. A settlement over adverts would not make HTX authorised or lift sanctions.
Other regulators and where HTX is unavailable
European Union. The Council adopted the EU’s 21st Russia sanctions package on 23 July 2026. It extends crypto transaction bans to 14 platforms in countries including Panama, Georgia and the UAE. The regulation, published in the Official Journal and as reported by The Block and law firm Cooley, names “HTX (HUOBI GLOBAL SA)”. From 23 August 2026, EU operators may not transact with it directly or indirectly. It is not an asset freeze. EU, EEA and Swiss nationals and residents may apply to their national competent authority for authorisation to withdraw funds or close accounts, but only within three months of the ban taking effect. Reports put that deadline in late November 2026. Check the exact date with your national authority. Our EU crypto regulation guide explains how MiCA and sanctions differ.
United States. HTX does not serve US persons. Any US resident with legacy Huobi exposure should consider US sanctions and tax reporting separately, with professional advice.
Counterparties. Blockchain analytics firms have flagged HTX-linked wallet movements since the designations, and HTX has publicly disputed some of those readings. Compliant exchanges and payment firms in sanctioning jurisdictions may screen, delay or reject transfers that trace back to HTX. You should expect friction even when you are moving your own coins.
Hacks and incidents since 2023
| Date | Incident | Reported loss | Outcome |
|---|---|---|---|
| 24–25 September 2023 | Hot-wallet theft | 4,999 ETH (about $7.9 million at the time) | Funds returned after HTX offered a bounty. HTX paid 250 ETH. |
| 22 November 2023 | HTX hot-wallet compromise | About $30 million, confirmed by the company. Some analysts estimated more. | Justin Sun said affected users would be reimbursed. Deposits and withdrawals were paused. |
| 22 November 2023 | HECO Chain bridge drained (suspected private-key compromise) | About $86.6 million, per PeckShield | Combined losses estimated at $110 million or more across both incidents |
| May–August 2026 | UK designation, then EU transaction ban | Not applicable | Ongoing legal restrictions |
Two hot-wallet compromises within two months, plus a bridge private-key failure, point to weaknesses in operational key management rather than one-off bad luck. Our page on the safest crypto exchange criteria explains what a stronger record looks like.
Reserves, fees and the TRX ecosystem link
Proof of reserves. HTX publishes monthly Merkle-tree proof-of-reserves reports under Assets > PoR Reports. Its June 2026 report, with data as of 1 June 2026, showed ratios of 103% for BTC, 100% for ETH, 105% for TRX and 101% for the HTX token, according to the company. What this proves: the listed on-chain holdings exceeded the customer balances in the snapshot, and you can check that your balance was included. What it does not prove: the absence of hidden liabilities, the quality of reserves held in HTX’s own or affiliated tokens (TRX and HTX make up a meaningful share), or what happens to access when sanctions block withdrawals.
Fees. As of October 2026, independent fee summaries list HTX’s standard spot rate at 0.20% for makers and takers. Lower tiers apply by volume or holdings, and holders of HTX or TRX tokens reportedly get discounts. HTX’s own fee page is the authority. For anyone in the UK or EU, fees are irrelevant next to the legal position.
TRON link. The “T” in the name is TRON. HTX lists TRON-ecosystem assets heavily, and its reserves include them. This concentrates risk: a shock to the TRON ecosystem would hit both the exchange’s assets and its token-denominated reserve figures.
If you already hold a balance on HTX
- Do not deposit more if you are a UK or EU person, or anyone acting for one.
- Read the primary guidance. UK: OFSI’s Russia guidance and HTX FAQ on gov.uk. EU: your national competent authority’s guidance on the 21st package and the withdrawal authorisation process.
- Take legal advice before moving funds. A withdrawal is a transaction. Under UK sanctions it may need an OFSI licence, and in the EU an authorisation applied for within the three-month window.
- Keep records of balances, dates and correspondence for tax and compliance purposes.
- Beware recovery scams. Anyone offering to “unlock” sanctioned funds for a fee is very likely a fraudster. Report it to Action Fraud (UK), your national police, or the FBI’s IC3 (US).
For a general view of what happens to customer assets when access is cut off, see what happens if a crypto exchange shuts down. If you are choosing a regulated alternative, our how to buy crypto hub lists exchange reviews by region.
FAQ
Is HTX safe?
HTX publishes monthly proof-of-reserves reports showing major assets at or above 100% in its own snapshots. It also suffered two hot-wallet thefts and a bridge hack in 2023, and since May 2026 it has been subject to UK sanctions and an EU transaction ban. For users in those jurisdictions, the legal risk outweighs any platform feature.
Is HTX the same as Huobi?
Yes. Huobi rebranded to HTX in September 2023 at TOKEN2049. HTX has argued that Huobi Global S.A., the sanctioned Panama company, is separate from the exchange. The UK’s OFSI and the EU’s regulation both treat HTX as covered.
Can UK residents use HTX?
No, not lawfully without a licence. OFSI says HTX remains subject to UK financial sanctions following the 26 May 2026 designation of Huobi Global S.A., and HTX is not FCA-authorised. Existing UK users should read OFSI guidance and get legal advice before moving any funds.
What is Justin Sun’s role at HTX?
The TRON founder unveiled the HTX name in 2023 as a member of its Global Advisory Board. He is widely reported to be closely associated with the exchange, and pledged in November 2023 that hack victims would be reimbursed. He was not named as a defendant in the FCA’s 2025 claim.
This review is general information, not legal advice. Sanctions questions require a qualified lawyer.
Crypto is volatile and risky; this is education, not financial advice. Do your own research.
