What Is HTX (Formerly Huobi)? A Straight Read on One of Crypto’s Oldest Rebrands

Few exchanges carry as much baggage in their own name as this one. Search "huobi global," "htx exchange," or even the occasional misfire "houbi global," and you're looking for the same platform under three different identities it's worn in just over a decade. Understanding why it changed names — and what changed along with the name — matters more here than with most exchanges.

What Is HTX, Exactly?

HTX is a centralized cryptocurrency exchange founded in China in 2013 by Leon Li under the name Huobi. It grew into one of the earliest major global exchanges, riding out China's shifting regulatory stance by relocating its operations abroad while keeping the Huobi brand for nearly a decade. In September 2023, the exchange rebranded to HTX — not, as some sources suggest, a simple anniversary refresh, but a rebrand that followed a 2022 ownership change, when entrepreneur Justin Sun (founder of Tron) acquired a major stake, reported by Bloomberg at 60%, though Sun has publicly disputed holding a majority position.

Today, HTX offers spot trading across more than 700 cryptocurrencies, derivatives with leverage up to 200x, staking, copy trading, crypto loans, and a zero-fee P2P marketplace spanning 27 fiat currencies. Reported figures put its user base above 50 million across roughly 170 countries — though, as covered below, the list of places it actually serves is narrower than that headline number suggests.

Which Country Is HTX Based In?

HTX's corporate registration currently sits in Victoria, Seychelles — a jurisdiction favored by crypto exchanges for its light regulatory touch, a step down from its earlier China-based structure. On top of that base registration, HTX holds a license from Dubai's Virtual Assets Regulatory Authority (VARA) and an additional registration in the Bahamas. It has not obtained a MiCA authorization in the European Union.

HTX blocks access from a long list of jurisdictions, and the list is genuinely extensive:

If "htx exchange usa" or "htx usa" is what brought you here, the short answer is no — there's no workaround HTX itself sanctions, and using a VPN to bypass the block would violate its terms of service.

HTX Fees: What You Actually Pay

Base spot trading fees on HTX sit at 0.2% maker and 0.2% taker — noticeably above leaner competitors like Bybit (0.1%) and roughly in line with mid-tier exchanges. The rate drops meaningfully with volume and with HTX token holdings, falling as low as 0.02%/0.04% for the highest-volume accounts, with up to a 65% discount available when fees are paid in the native HTX token.

The 2023 Hacks — What Happened and What It Means Now

HTX's security history is the part most worth reading carefully before depositing funds. Within roughly two months of its September 2023 rebrand, the exchange was hacked twice:

• September 24, 2023: Attackers drained about $7.9 million in ETH from an HTX hot wallet.
• November 22, 2023: A second hot-wallet breach hit for an initially underreported $13.6 million, later confirmed at roughly $30 million. The same week, a related cross-chain bridge tied to the Sun ecosystem, Heco Chain, lost over $85 million separately — bringing total losses across Sun-linked platforms that month above $100 million.

In both HTX incidents, Justin Sun publicly confirmed the exchange would fully cover user losses, and withdrawals resumed within days. No customer reportedly lost funds permanently. Still, two hot-wallet breaches in nine weeks, on a newly rebranded platform, is a meaningfully rougher record than most top-20 exchanges carry into 2026 — and unlike several competitors that adopted regular Proof of Reserves reporting after 2022, HTX's reserve transparency remains limited compared to exchanges like MEXC or Bitget, which now publish monthly attestations.

As our author Wes Ibarra puts it: "A rebrand changes the logo. It doesn't erase the wallet architecture underneath it. When I'm checking an exchange's safety, I care a lot more about what's changed technically since an incident than what's changed on the homepage."

HTX vs. Binance: The Short Version

Both are large, derivatives-heavy exchanges with roots in Asia, but they've diverged sharply on regulatory posture:

How to Get Started on HTX

• Register on the HTX website or app with an email or phone number
• Complete identity verification — required for higher withdrawal limits, though basic trading has historically needed less documentation than fully KYC-first exchanges
• Fund the account via crypto deposit (no platform fee) or the zero-fee P2P marketplace if fiat access in your region is limited
• Choose between the simplified trading view and the Pro interface for derivatives, copy trading, or margin
• Consider holding HTX token if you trade frequently — the fee discount scales meaningfully with volume and holdings

Questions People Actually Ask About HTX

Is HTX the same company as Huobi? Yes — HTX is the current name for the exchange that operated as Huobi from 2013 to 2023, following a change in ownership.

Who owns HTX now? Justin Sun holds a major stake, reported at 60% by Bloomberg, though he has disputed having majority control. He serves publicly as an advisor to the exchange.

Is HTX available in the US or UK? No. Both are fully blocked, with no licensed US or UK entity operating the exchange.

Has HTX been hacked? Yes — twice within about two months in late 2023, for a combined roughly $38 million. HTX says all affected users were fully compensated.

Does HTX publish Proof of Reserves? Its reserve reporting is less consistent than several major competitors, which is worth weighing if long-term custody on the platform is part of your plan.