TRM Labs: HTX rotates wallets to evade UK sanctions screening
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Blockchain analytics firm TRM Labs alleges that crypto exchange HTX is systematically rotating its wallets to avoid detection by UK sanctions screening systems. The UK sanctioned HTX in May over its alleged role in facilitating Russian sanctions evasion.
The Allegation
TRM Labs, a blockchain intelligence firm, reported that HTX has been rotating wallet addresses to evade UK sanctions screening. The practice involves moving funds between new wallets before they are flagged by compliance systems. TRM identified over 100 wallets linked to HTX that were active after the May sanctions.
UK Sanctions Context
The UK government sanctioned HTX in May 2026, accusing the exchange of facilitating transactions for entities subject to Russian sanctions. HTX has denied any wrongdoing. The exchange continues to operate globally, though its access to UK-based financial services has been restricted.
What's Next
The UK Treasury is expected to review the effectiveness of its sanctions screening tools in light of TRM's findings. It remains unclear whether HTX will face additional penalties or whether other exchanges employ similar evasion tactics.
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TRM Labs: HTX rotates wallets to evade UK sanctions screening
