An examination of cryptocurrency exchange HTX’s September proof of reserves (PoR) has revealed discrepancies between the platform's public claims and actual blockchain balances. The disclosures, which rely on specific block heights, failed to match on-chain data for multiple assets.
USDS and USDD Discrepancies
In its September PoR, HTX claimed to hold 360,949.90 USDS in a specific Ethereum address at block height 25876316. However, Etherscan data shows that the address actually contained zero USDS at that block height. The address did not receive USDS until block height 25889452 on September 2, a day after the dated proof of reserves.
Similarly, the PoR reported holding 44,975,772.00 USDD in another designated address at block height 25876316. Blockchain records for that address at the specified block height show a balance of 44,886,000 USDD, differing from the reported figures.
Historical Reporting Issues
These findings follow previous reporting regarding earlier HTX proof of reserves. In a May report, the exchange claimed to hold a specific amount of STEAK-USDC in an address where blockchain data showed no such tokens, though it did hold an equivalent amount of sUSDS. That discrepancy suggested a potential confusion in asset disclosures.
HTX did not respond to requests for comment regarding the discrepancies prior to publication.
