Cover up code in FTX

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Aug 6th, 2022
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How to cover up code in FTX

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.
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What Happened to FTX? FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion.
FTT is a , not a coin, so it cannot be mined. However, holders and stakers can earn rewards. As of May 2022, FTX offers trading discounts of 3% for holders of more than $100 worth of FTT. These discounts increase to a 60% discount on trading fees for those who hold more than $5 million worth of the .
At the fraud trial of former FTX head Sam Bankman-Fried, prosecutors presented the jury with Python code for the FTX backend that allowed flagged client accounts to spend money they didnt have on the cryptocurrency exchange.
python-ftx-api PyPI.
When FTX could not pay the $8 billion gap, the company filed for bankruptcy. FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals.

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