Multiple sources confirmed that Huobi COO is under investigation and operations and withdrawals are temporarily normal

On the evening of November 2, Huobi HT suddenly plummeted, and then the market reported that Huobi’s second-in-command, COO Zhu Jiawei, was under investigation. Zhu Jiawei did not actually manage much of the business, but played more of a “political commissar” role.

There were also rumors that Zhu might be on the plane from Zunyi to Beijing, but as time went by, there was still no news. Later, multiple sources told Wu Blockchain that Zhu Jiawei was indeed under investigation, but it had little impact on the company's operations for the time being, and it was suspected that he was still related to Shanxi.

Huobi just held a rare Chinese cryptocurrency industry ecological conference in Zunyi, Guizhou, covering most of the industry's management and entrepreneurs. Some Huobi employees returned to Beijing from Guizhou on the 2nd.

On the afternoon of November 2, a video of the conference was leaked. The founder of Huobi spoke after apparently drinking, saying that he was confident and not afraid, that Bitcoin was not illegal, and that neither Huobi nor himself had done anything illegal.

On October 16, OK founder Xu Mingxing was exposed to be under investigation. Then on October 21, Li Lin recalled the original co-founder Du Jun who was overseas.

Although the internal letter stated that Du Jun was mainly relied on to expand the international market, the industry generally believed that they were preparing for a rainy day and looking for overseas private key managers. Du Jun’s circle of friends also indirectly confirmed this news.

On the evening of November 2, Du Jun immediately expressed in his circle of friends that everything is normal at Huobi.

Du Jun did not respond to or refute the rumors about the investigation of senior executives. He emphasized that Huobi's operations are normal and the safety of user assets is the top priority , which means that Huobi may ensure normal operations under pressure.

After Xu Mingxing was investigated, Binance quickly conducted multiple "exercises" of key managers being out of contact. Huobi is promoting its own multi-signature technology, which does not rely on the authority and operation of a single person. It is reported that Huobi has also carried out contingency plans and exercises internally. Although panic continued to spread after this incident, the response was still orderly.

Zhu Jiawei was born in 1982 and graduated from Hohai University. He worked at Oracle and joined Huobi in 2015. He began to popularize blockchain and cryptocurrency to Chinese society. Many people were influenced by his popular science content and entered this industry. There is no detailed information on the reasons and forms of Zhu Jiawei's investigation, which needs to be disclosed by official or accurate information sources later.

On October 30, Huobi Global CEO Qi Ye responded to He Yi’s attack and said: Huobi has received more than a dozen silk banners (sent by the police) this year and is preparing to hang them on the display wall.