{"id":16853,"date":"2023-02-13T09:03:52","date_gmt":"2023-02-13T09:03:52","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/"},"modified":"2023-02-13T09:03:55","modified_gmt":"2023-02-13T09:03:55","slug":"huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/","title":{"rendered":"Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet"},"content":{"rendered":"<p><\/p>\n<div data-v-4bbf85c5=\"\">\n<p>Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing \u2018strategic and product adjustments\u2019.<\/p>\n<p>As per an announcement on Huobi\u2019s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the Cloud Wallet are being encouraged to transfer cryptocurrency and nonfungible tokens (NFTs) to their main Huobi accounts or other wallet addresses. <\/p>\n<p>Huobi Cloud Wallet\u2019s withdrawal and transfer functions will work for the next three months, while users are cautioned not to transfer digital assets to their Cloud Wallet. Huobi Cloud Wallet\u2019s official decommission date is May 13, 2023.<\/p>\n<p><strong><em>Related:\u00a0Binance, Huobi team up to recover $2.5M from Harmony One hackers<\/em><\/strong><\/p>\n<p>Huobi Wallet was rebranded to iToken in May 2022 following a $200 million investment from Huobi Group. The Huobi Cloud Wallet was originally launched in October 2021 as a feature of Huobi Wallet, allowing users to manage digital assets without private keys.<\/p>\n<p>The provision of a custodial wallet service was aimed to drive easier access to Decentralized Finance (DeFi) applications and services . Cloud Wallet allowed users to hold tokens without having to manage private keys, with a third-party management system keeping user private keys in escrow.<\/p>\n<p>Huobi Global users were touted to enjoy seamless synchronization with the Cloud Wallet service, being able to transfer tokens between the platforms to access various DeFi projects.<\/p>\n<p>Huobi also made headlines\u00a0in Jan. 2023, delisting 33 different tokens that violated a number of prerequisites to maintain their listing on the exchange platform. The exchange\u00a0confirmed plans at the beginning\u00a0of the year to retrench 20% of its staff as part of its restructuring following Justin Sun\u2019s takeover of the company.\u00a0<\/p>\n<p>Cointelegraph has reached out to Huobi to ascertain the main reasons for the discontinuation of the Huobi Cloud Wallet.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing \u2018strategic and product adjustments\u2019. As per an announcement on Huobi\u2019s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the Cloud Wallet are being encouraged [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing \u2018strategic and product adjustments\u2019. As per an announcement on Huobi\u2019s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the Cloud Wallet are being encouraged [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-13T09:03:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-13T09:03:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/02\/d7728ede-ee0e-4721-a613-9253d5c8c36c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1450\" \/>\n\t<meta property=\"og:image:height\" content=\"966\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet\",\"datePublished\":\"2023-02-13T09:03:52+00:00\",\"dateModified\":\"2023-02-13T09:03:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\"},\"wordCount\":311,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/02\/d7728ede-ee0e-4721-a613-9253d5c8c36c.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/huobi-cloud-wallet-no-more-exchange-pulls-plug-on-defi-multi-token-wallet\/\",\"name\":\"Huobi Cloud Wallet no more: Exchange pulls plug on DeFi multi-token wallet | NFT &amp; 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