Statement on Launching Huobi Security Reserve
In January 2018, Huobi launched User Protection Fund (20% of Huobi’s income goes to buyback. All the bought-back HTs will be stored in Huobi User Protection Fund). This decision has gained wide support and active response from users. Today, Huobi Pro officially launches another users protection mechanism——Security Reserve Mechanism, providing a more secure asset protection for our global users.
Huobi Pro always takes user protection as priority and strictly separate users’ digital assets in cold and hot wallet, storing most of digital assets in multi-signature cold wallet. In the past years, we have a quite satisfying security records. After a few years of development, the size of Huobi Pro’s own assets is far more than that of the assets stored in the hot wallets of our platform. So we decide to implement the following user protection mechanism:
1. Establish Huobi Security Reserve with a total amount of 20,000 BTC. This reserve is owned by our platform, stored in independent address and used to cope with extreme security accidents.
2. For any security loss that is resulted from factors except for users themselves, Huobi Pro will pay compensation for the loss in full and in advance. The compensation comes from this reserve.
Feb 5th, 2018