Blockchain intelligence firm TRM Labs reported that HTX, the crypto exchange controlled by Justin Sun, rebuilt its on-chain infrastructure following UK sanctions on May 26 by rotating wallets across TRON, Ethereum, BNB Smart Chain, and Solana. The UK designated Huobi Global S.A., the entity behind HTX, for allegedly channeling more than $1.5 billion to the Kremlin. TRM Labs described this rapid rotation as a « continuous moving target » that renders blocklists of specific addresses stale within hours. The US Treasury’s OFAC and the EU have not designated HTX, limiting freeze obligations to UK-regulated firms only. HTX denied any wrongdoing, stating that these activities reflect « routine, security-driven platform operations common across the industry ».
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