HTX, Justin's Sun-wise cryptocurrency exchange, launched hundreds of millions of dollars worth of tethers (USDTs) from the Aave Lending platform last week.
It is not clear why HTX is involved in these transactions, but it caused significant volatility in Aave's USDT lending rate.
HTX Transaction Timeline
0x18709E89BD403F470088888886CC60DDA12E (0x18709) is the address labeled “Huobi: Recovery” by Ethelsan, where are you? HTX received funds after hack.
0x18709 is a frequently used address that interacts with a variety of distributed financial (DEFI) protocols, including Aave, Uniswap, and Justin Sun-Advised Rapped Bitcoin.
On July 10th, 0x18709 received USDT worth $34 million from 0xA03400E098F4421B34A3A44A1B4E571419517687 (0XA034) in a series of transactions.
0xA034 is labeled “HTX 48” by EtherSker.
This was followed by 0x18709, followed by 0x18709, and another $4 million in USDT from 0xA034.
That transaction was followed by a deposit of all $38 million to Aave before 0xA034 deposited $40 million worth of USDT in 0x18709 in four transactions.
0x18709Next All 40 million dollars have been moved to Aave.
Two days later, on July 13th, 0x18709 withdrew $90 million from Aave and sent those funds to 0xD00E0079B8CAB524F3FA20EA879A7736E512A5FC.
That same day, 0xA034 sent USDT about $120 million in a series of five transactions to 0x18709 before 0x18709 deposited those assets on Aave.
On July 14th, 0XA034 sent USDT worth approximately $50 million to 0x18709.
0x18709 retracted an additional $50 million worth of USDT from Aave before $100 million worth of USDT was sent back to 0xA034.
July 16th, 0x18709 retracted USDT $500 million, $200 million, $200 million From Aave.
He then reverted the $100 million USDT to Aave.
Read more: World Freedom Promised Lending Six Months ago – So, where is it?
HTX has a history of withdrawing and depositing large amounts of funds from Aave, and Protos has previously reported how these actions affect lending and borrowing rates in these markets.
Protos contacted HTX to clarify why he was involved in these transactions on Aave, but he did not respond immediately.
