On Friday, the FTX Official Debtors Management account on Twitter warned the public to be wary of scams by entities claiming to be linked to FTX. It is also widely known that neither FTX creditors nor entities associated with the company have ever issued IOU crypto assets, or “debt tokens.” The FUD token, which circulates on the Tron Blockchain, is listed on Huobi.
FTX Debtors Make Use of Official Twitter Account to Inform Neighbors
Debtors that manage the official FTX Twitter Accounts are cautioning neighbors about entities claiming to be related to the now-defunct crypto exchange. The company filed for Chapter 11 bankruptcy, and the restructuring team and debtors use FTX’s official Twitter account to notify neighbors of any updates. On February 17, 2023, the debtors released an alert specifying that no debt tokens have been issued by the bankrupt business.
“FTX debtors remind interested partners to be wary of scams by entities claiming to be affiliated with FTX,” the bankrupt exchange’s Twitter account officially noted on Friday. “FTX debtors have not issued any debt tokens and such offers are not authorized.”
FUD Token Circulating on Tron Blockchain, Listed on Huobi
As the restructuring team and debtors of the exchange warn of unofficial tokens, a cryptocurrency was created on the Tron Blockchain called FUD, or FTX User’s Debt. Details about the coin can be found at coingecko.com. As of February 18-2023, it is being traded at prices ranging from $15.05 to $16.88 per unit. On February 6, 2023, Huobi announced that it had listed FUD, with an initial supply of over 20 million.
The advertisement also states that “Debt” is aiming to eliminate 18 million FUD. Tron founder Justin Sun discussed the endeavor on February 4, 2023, noting that the “bond token represents the high-quality FTX debt asset and is designed to benefit everyone in the crypto world.” Coingecko.com does not track a circulating supply for the FUD token, which can be seen on Tronscan with 2,000,000 FUD tokens currently in existence. This implies that 1,999,966 tokens are held by 4 unique holders on Huobi.
According to Coingecko.com, Huobi FUD is one of the most active trades, with a total buying and selling volume of $213.072 in the last 24 hours. This is mostly paired with Tether (USDT). FUD reached an all-time high of $73.97/unit on February 7, 2023, the day after its listing, and has since dropped 78%. The warning issued by FTX debtors and the official FTX Twitter account does not mention any particular token. It only provides a link to the web portal, where people can find details about the chapter or restructuring process at kroll.com.
