Terriers chief David Wagner only signed the 26-year-old from Fulham in a £4million deal during the summer window to bolster his squad ahead of their first-ever Premier League season.
However, with Malone struggling to force his way into the Town side because of Chris Lowe's impressive early-season form, it appears that the defender is already becoming frustrated.
Yorkshire rivals Leeds were credited with an interest earlier in the week and that speculation has continued, with the Elland Road side believed to be interested in offering him regular football in the Championship by making a January swoop.
Whites' chief Thomas Christiansen had looked to fill the void left by Charlie Taylor's departure to Burnley by taking Cameron Borthwick-Jackson on loan from Manchester United.
However, the youngster has not featured since making his debut in August and Gaetano Berardi has been battling injury problems.
Therefore, the Danish tactician reportedly sees Malone as an ideal fit for his side given that he has vast experience of playing in the second tier following spells with Millwall and Cardiff before he joined Fulham in summer 2016.