11.6 C
Friday, April 19, 2024

Huobi Announces Decommissioning of Huobi Cloud Wallet

- Advertisement -
binance 728x90 banner

According to information on the official page of the Chinese cryptocurrency exchange Huobi, the multi-token DeFi wallet Huobi Cloud Wallet will no longer receive the necessary updates and support on the platform from February 13th.

The official date for the complete cessation of services and the decommissioning of the Huobi Cloud Wallet is May 13, 2023 (UTC+8).

Huobi draws the attention of users of the service that the functions of withdrawing and transferring funds in the cloud wallet will only be available within the next three months. The exchange team strongly recommends that users have time to withdraw crypto assets and NFTs to a personal Huobi account or other addresses on the network.

The Huobi cloud wallet allowed users to store tokens without managing private keys, and a third-party management system kept user keys in escrow. Huobi Global customers were able to seamlessly sync with the cloud wallet service and transfer tokens between platforms to access various DeFi projects.

In early February, Huobi Global announced the placement of the debt of users of the collapsed FTX crypto exchange in the form of FUD (FTX’s Users’ Debt) token for spot trading. Operations with FUD, according to the exchange, have become available to users since last Monday, February 6.

- Advertisement -


Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

- Advertisement -binance
Related Articles