FTX Warns About Trade Of Fake “Debt coins” On Exchanges
Key Points: The restructuring team responsible for the FTX bankruptcy issued a warning today to investors, warning them to be cautious about fraudulent tokens that may seek to profit from the difficulties facing the defunct cryptocurrency trading platform.
FTX was fraudulently handled, and it is unknown if former clients will ever be able access the money they had on that exchange.
Houbi, a Seychelles-based business led by Tron creator Justin Sun joined companies like Coinbase and Crypto.com in drastic personnel reductions during a bear market.
“The FTX Debtors have not issued any debt token.” “The FTX Debtors has not issued any debt token.” According to CoinMarketCap data, FUD’s value has dropped precipitously and is now worth only $15.73. Tether (USDT), and USDD are the only stablecoins that can be traded using the token. They can also only be traded on Huobi. According to CoinMarketCap its trading volume for the preceding day was less than $250,000. On November 11, FTX declared bankrupt and Sam Bankman-Fried, the founder, resigned as CEO. The platform collapsed due to a bank run that depleted liquidity. Bankman-Fried was taken into custody and charged with eight financial offences in connection with the collapse of FTX. Since billions of dollars have disappeared, it is unclear if former clients will be able to access their money on the exchange again. Scam tools such as FUD could now be stealing more money from these clients. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: Debt CoinsFTXFTX bankruptcyFTX Debtors