Huionepay Group Shuts Down USDT Stablecoin Payments After On-Chain Funds Fall to 990,000 USDT

According to regional media, Huionepay Group has enacted a phased payment delay after a spike in withdrawal requests amid shifting external markets, prioritizing the security of customer funds and the smooth progression of settlements while internal reviews proceed. The move signals prudent liquidity management during a period of heightened market volatility and uncertainty.

Bitrace‘s on-chain analysis shows Huionepay‘s stablecoin activity is concentrated on the Ethereum and Tron networks. USDT balances on Ethereum addresses were exhausted by October with the last withdrawal on Nov 3 and no further activity. On the Tron side, operations were progressively wound down. In early December, hot-wallets were consolidated to a handful of addresses for withdrawals on dates 3, 7, 17, 19 and 24, and funds were largely exhausted by December 28; new addresses were then created to support ongoing withdrawals. On-chain metrics show daily outflows peaking near 41.83 million USDT and sliding to 7.17 million by December 30; as of Dec 2, 2025, about 990,000 USDT remained, signaling cessation on December 1.

Analysts emphasize reliance on official disclosures and ongoing on-chain transparency to gauge exposure and risk controls. Stakeholders should monitor reserve solvency updates from Huionepay Group and consider the evolving regulatory landscape surrounding stablecoin liquidity.