HTX shifts wallets after UK sanctions

• HTX has repeatedly changed wallet addresses after UK sanctions, according to TRM Labs.
• Researchers said the exchange moved funds to reduce the impact of sanctions.
• The findings show how crypto platforms can quickly adapt to enforcement actions.

HTX has repeatedly moved cryptocurrency between new wallet addresses after UK sanctions targeted wallets linked to the exchange, according to blockchain analytics firm TRM Labs.

TRM Labs said HTX quickly shifted funds into fresh wallets after sanctioned addresses were identified, making it harder to track and restrict transactions.

The report said blockchain analysis linked the new wallets to HTX through transaction patterns, despite the frequent address changes following the UK sanctions.

The findings highlight the ongoing challenge regulators face in enforcing sanctions on digital assets, and no share price reaction was available because HTX is privately owned.

TRM Labs provides blockchain intelligence to governments and financial institutions, helping them trace cryptocurrency transactions linked to fraud, sanctions and other financial crimes.

Governments have increased their use of blockchain analytics as crypto adoption grows, while exchanges continue to strengthen compliance with international sanctions and anti-money laundering rules.