What happened to Huobi?

Has anyone been keeping an eye on the developments surrounding Huobi? There seems to be a lot of buzz in the crypto community lately about the exchange. Some rumors suggest that they've been facing regulatory issues, while others are claiming financial instability. Can anyone confirm or deny these rumors? If true, how might this affect the crypto market in the long run? Are there any investors or traders who have been impacted by Huobi's recent troubles? And what measures are they taking to mitigate the risks? Surely, this is a matter of great concern for anyone involved in the cryptocurrency space. So, what's the real story behind Huobi's recent troubles?