Ok so the new update just came out and i am aware a lot of people are curious to what was in the update and what changes have been made by downloading it.

Where any glitches patched?
There was no glitches patched in this update and glitches are most likely never going to be patched from a game update anymore. As of 1-2 years ago the ability for developers to change games and fix MINOR bugs/glitches took effect allowing game devs to apply them without a download from the player. Single player glitches/bugs will still need game updates to be fixed though. For those curious the way this works is because the GTA 5 ONLINE is running on servers the servers can be changed and edited at any time just like any game online can be. Aslong as the actual game its self doesn't need files changing or files adding them bugs and glitches are patched server side meaning no update required.

So what actually was in the update?
SO as Rockstar announced on the GTA 5 website the main update reason was to fix and prevent any character loss. The download most likely added files or changed them to fix this. Another thing most likely to be in the update was preparations for the beach bum pack. This means the update contains files to allow the pack to run and be used. There will still most likely be a update when the beach bum pack is released but Rockstar probably split the update to make things easier for them and faster and smoother for us on release.

Are the ban rumors true and will I be banned for glitches?
You will hardly ever receive a ban from using glitches. The glitches are faults with the game and as long as you have not modified the game data in any way to make the glitch/bug work in your favor you will not be banned. However you can and could be reset. Rockstar at any time can either take money, give money, reset money or roll back money to a specific date. If they had the time and wanted to they could easily see anyone who has used the money glitch and deal with you in what ever way they see fit, this does not mean a ban from Xbox live but could mean a reset or small chance a ban from the GTA 5 servers. If Rockstar have the ability to skip a mission for you (which they can) you think they cant see how much money you have and how you made it? Go to your online game stats you will see your money earned from selling vehicles.. That information is open to the public so what do you think Rockstar can see and detect which is not open to public?

How do you know all of this?
I wont lie a lot of it is guess work but my uncle worked in the video game industry for a few years and came out a few months back. He has told me some things here and there so basically everything is a educated guess.

EDIT:
For those who have the modded vehicles in your garage (Space Docker, snowy cars) there could be a possibility that Rockstar could take this as you have modded the vehicle in the game yourself rather than using the dupe glitch. Im not sure how Rockstar will check how the vehicles got in your garage or even if they will check but its important to remember that they have been modded into the game. Any form of modding is ban able so for anyone with them please be aware there is a small risk of you being seen as the person who modded them into the game resulting in a possible ban. I personally have some cars and will not be removing them its just something to keep in mind.