HTX TO DELIST $USD1 - CONVERTS HOLDINGS TO $USDT AT 1:1

What's Happening: HTX is removing WLFI's USD1 stablecoin, converting balances to USDT at a strict 1:1 ratio.

Effective: 3:00 UTC, June 7

$WLFI froze specific HTX-linked on-chain addresses over sanctions compliance reviews. Root cause: UK sanctioned Huobi Global S.A. (entity tied to HTX) on May 26.

For Holders:

🔹 WLFI tokens are frozen, NOT lost

🔹 Withdrawals resume once freeze lifts

🔹 USDT credited directly to spot accounts

Second time WLFI has used its admin freeze function (Justin Sun blacklisted in 2025). Freeze controls exist in USDT and USDC too but their use on retail holdings exposes real counterparty risk.

The Lesson: Not your keys, not your coins. Centralized stablecoins carry issuer-side control risk, no matter the brand behind them.