Exchanges Binance and Huobi freeze suspicious deposits in FTT tokens

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Trading platforms Binance and Huobi blocked approximately $400 million worth of FTT tokens issued outside of the schedule.

FTT is currently following an unlock schedule, withwhich periodically releases large quantities of tokens. On November 13, tokens were created unscheduled without warning to the issuer, the FTX exchange or its associated entities. According to the blockchain,
More than 192 million FTTs have been created. Tokens were issued from the main blockchain address.

After Binance blockedsuspicious FTT transactions, the founder of the crypto exchange, Changpeng Zhao, urged other exchanges to be vigilant and do the same:

“Binance has decided to block FTT deposits to prevent potential questionable token transactions from impacting the market.”

Zhao's call was heard, and Huobi Globalalso blocked the placement of deposits of FTT tokens on its wallets. Justin Sun supported the Huobi Global trading platform and said that "the community will closely monitor the situation."

Recently there was information about a hackFTX, which is in bankruptcy proceedings. The exchange began to rapidly lose client assets. However, FTX's legal counsel explained this as “precautionary measures” and the transfer of assets to a backup cold wallet.