FTX – The Fraud Was in the Code

Re:FTX – The Fraud Was in the Code by prettychill on Tuesday October 10, 2023 @10:16AM (#37832416)

If you actually look at the article the very first code sample shows how certain customers (Alameda) are directly exempt from auto liquidation & can carry negative balances at FTX.

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Re:FTX – The Fraud Was in the Code by shapefrog on Tuesday October 10, 2023 @11:01AM (#37832972)

Is it fraud for a company to extend credit to another company? Any company that issues a invoice and allows say 14 days to settle is extending credit to the other party.

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Re:FTX – The Fraud Was in the Code by prettychill on Thursday October 12, 2023 @03:20PM (#37861812)

It is most certainly fraud to lie about protections in place to protect customer assets. That includes backstop insurance and auto-liquidation practices.

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