Rumors that the exchange's leadership had been arrested in China surfaced over the weekend. Huobi labeled it as fake news.
Cryptocurrency exchange Huobi has seen outflows worth $64 million between Aug. 5-6, amidst ongoing rumors about its solvency and that Chinese authorities were investigating its executives. Outflows over the weekendin the exchange's total value locked falling to $2.05 billion at the time of writing, down from $3.09 on July 6.
Rumors that the exchange's leadership had been arrested in China first surfaced on Aug. 4, as part of an alleged investigation about the exchange's dealings with gambling platforms. Speaking to Cointelegraph, a Huobi spokesperson labeled the claims as fake news.
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