Huobi Global, one of the leading crypto exchanges in the world, has taken steps to address the issue involving Li Wei, a DAO member who had acquired an abnormally large amount of zero-cost HT tokens. With the primary intent of protecting the interests of the HT token holder's community, the Huobi Global Advisory Committee and the HT DAO community have chosen to recover and destroy these ill-gotten tokens. Li Wei was accused of selling these tokens for monumental gains on the Huobi platform.
To rectify this issue, Huobi Global plans to negotiate a refund with Li Wei and coordinate for the destruction of his remaining HT tokens. This action is being taken in the interests of fairness and justice, with the aim of ensuring that all the members of the HT DAO community reap the rewards of legitimate contributions to the project.
Li Wei had received millions of HT tokens during the first distribution. Instead of contributing to the HT DAO community, he opted to sell off these tokens, obtaining immense profits as a result. Consequently, the HT DAO committee sought to intervene and initiate the recovery process to obtain back the profits from the sale. These assets will be used to repurchase and subsequently destroy the HT tokens.
This decision of recovering and destroying the zero-cost HT obtained by Li Wei is being seen by the crypto community as a declaration of accountability and commitment to fairness from the HT community. It also serves to protect the interests of all the members of the HT DAO community, by rewarding genuine contributions and disallowing any profiting of unjust means.
Heidi Martin
- 2023-05-19
Huobi Global to Recover & Destroy Abnormally Acquired HT Tokens
Huobi Global has taken steps to recover and destroy zero-cost HT tokens illegally obtained by Li Wei, a DAO member, in the interests of fairness. This move serves to protect the interests of the HT token holder's community and reward genuine contributions to the project.
