TRON Inc. Received TRX From HTX Wallets After UK Sanctions, On-Chain Data Shows
TRON Inc. switched wallets after UK sanctions
On-chain data shows that TRON Inc., a company that holds TRX tokens, received its daily TRX from an HTX wallet until shortly after the UK sanctioned an HTX-related entity. It then began receiving TRX from a wallet funded by HTX.
TRON Inc. is advised by Justin Sun and chaired by Weike Sun, Justin’s father.
Key findings from the blockchain records
- The treasury address of TRON Inc., TEySEZLJf6rs2mCujGpDEsgoMVWKLAk9mT, was receiving daily TRX purchases from an address labeled “HTX 4” on TRONSCAN, which was previously included in HTX's proof-of-reserves disclosures.
- The UK sanctioned Huobi Global S.A., an entity related to the HTX exchange, on May 26. The final transfer from HTX 4 to TRON Inc. occurred on May 29.
- Also on May 29, HTX 4 funded a new address, TYyriWzf7AW75hwiVB4oDBrJGThidZuRTd, which then took over sending daily TRX to TRON Inc.
- TYyr has also received TRX from an address labeled “HTX 5,” which is still listed in HTX’s proof of reserves.
- TRON Inc. now generally receives from TWhDfwC8QE6pQyiYy248dNor3uphPEw5M2, whose TRX mostly comes from Binance but has also come from HTX-affiliated addresses.
What the company has disclosed
TRON Inc.’s SEC filings state that it has purchased TRX from BiT Global, a company linked to Justin Sun, for its daily dollar-cost-averaging purchases. Dollar-cost averaging means buying a fixed amount of an asset at regular intervals.
The filings also say BiT Global is the custodian of the treasury wallet. They claim the company retains sole control of the treasury wallet and its private keys in Hong Kong, with directors authorized to arrange their safeguarding and operation.
Connections between the entities
One of TRON Inc.’s directors, Zhihong Liu, is also a director for BiT Global Trust Limited in Hong Kong. BiT Global is also one of the custodians for Wrapped Bitcoin, which Justin Sun advises.
These transactions suggest close ties between Justin Sun’s entities, though the report does not claim any wrongdoing.
What is confirmed
On-chain records confirm the wallet addresses and the timing of the transfers. TRON Inc. received TRX from HTX 4 until May 29, and then from a wallet funded by HTX 4. The company’s filings confirm its relationship with BiT Global.
What is still unclear
The report does not explain why the switch occurred or whether it was a direct response to the sanctions. The source is a report by Protos, based on public blockchain data and company filings.
Why this matters
The findings highlight the deep operational links between TRON Inc., HTX, and BiT Global — all connected to Justin Sun. The timing of the wallet change, right after UK sanctions, may raise questions about how these entities manage their relationships.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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