~Snipped
If FTX went as far as publishing insurance numbers out of thing air with no actual asset to back it up, I'm convinced that some CEX available today still indulge in those practice.
I have a doubt absolutely every company lies about numbers that they show on their website.
Yes, that's true; as there is no way to actually verify assets that users have deposited to an exchange. They can simply display whatever numbers they want and users will have no choice than to believe. For close source systems like that, it's hard to verify. It's not on-chain.
I'll be looking forward to the judgement. It's one thing to be found guilty, it's another thing to be duly punished.