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Huobi Imposes 24-Hour Crypto Withdrawal Delay To Curb Speculation By Cointelegraph

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Huobi Imposes 24-Hour Crypto Withdrawal Delay To Curb Speculation By Cointelegraph
Huobi Imposes 24-Hour Crypto Withdrawal Delay To Curb Speculation

Huobi Global, currently the world The second longest cryptocurrency exchange by daily traded volume, has inserted a 24-hour token withdrawal delay for all over-the-counter (OTC) trades.

The decision hits all Huobi users, some of whom, moreover, will not be able to withdraw their tokens for up to 36 hours if the exchange’s evaluation system considers them to be particularly high risk. Huobi has said the move is part of its attempt “to gradually introduce a series of risk control strategies that encompass a larger section of users.” It adds that it expects the delay to “effectively prevent user losses caused by the inflow of hedge funds and protect the safety of user assets.”