According to H.E. Justin Sun, First Digital Trust (FDT) is allegedly insolvent, urging those involved with the company to sever ties to protect their assets. This development could impact cryptocurrency trading volumes associated with FDT, and traders should carefully assess their exposure. Any legal consequences for its founder, Vincent Chok, remain to be determined by judicial authorities.

According to Justin Sun (@justinsuntron), First Digital Trust (FDT) is already insolvent, and stakeholders are advised to sever ties to protect their assets. This declaration highlights potential financial instability within FDT, impacting investor confidence and necessitating urgent risk management actions.

According to Crypto Rover, Justin Sun has declared that First Digital Trust is insolvent and has advised users to take immediate steps to secure their assets. This announcement may cause a decline in investor confidence and could lead to increased volatility in related crypto markets. Traders should monitor the situation closely for further developments.

According to Justin Sun, the financial team must quickly provide financial records as his company plans to file a civil lawsuit in Hong Kong High Court to demand public disclosure of these records, which are crucial for protecting their legal interests.

According to Phantom, it's crucial to exercise security best practices in cryptocurrency trading. They recommend learning more security tips to safeguard assets effectively.

According to Richard Teng, Binance's risk management team has successfully traced and recovered stolen funds, ensuring users' assets are protected. This incident underscores the importance of robust security measures in the crypto space, particularly for traders and investors who prioritize safety alongside profitability.

According to Lookonchain, a trader lost $1.82M due to phishing transaction signatures. This incident underscores the importance of double-checking transactions, regularly reviewing and revoking token approvals, using secure wallets, avoiding phishing websites, and being wary of unsolicited messages or unknown airdrops to safeguard assets.

According to Phantom, understanding common cryptocurrency scams is crucial for traders to secure their investments. The resource linked by Phantom emphasizes the significance of recognizing phishing schemes, Ponzi schemes, and fake ICOs, which have been prominent in the crypto market. Traders are advised to verify sources and use secure wallets to protect their assets. Such preventive measures are essential for maintaining portfolio integrity and avoiding losses from fraudulent activities.

According to Mihir (@RhythmicAnalyst), the focus in crypto trading should be on protecting assets and principal amounts, suggesting that an incremental approach is essential. He illustrates this by stating that if parts of an investment are failing, they should be pruned, similar to cutting off a rotting branch, and if necessary, more drastic measures should be taken if the entire investment shows signs of failing. This pragmatic strategy is aimed at minimizing losses and safeguarding investments in volatile markets. [Source: Twitter]