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South African investment firm vanishes with $3.6B in Bitcoin
- jokoon 5y agoIt's like an epidemic of fraud
- MathYouF 5y agoExactly, if people trusted legitimate financial markets like the NASDAQ and invested their money with accredited, well regulated investors like the former NASDAQ chairman Bernie Madoff, we could avoid losing billions of dollars from fraud and instead bump it back up to tens of billions of dollars. At least then we can be sure what's left of the stolen money that the fraudster didn't spent and kept in accounts under their name in participating countries can be returned.
- jokoon 5y agoWell, to answer your sarcasm, at least Madoff was found guilty and goes to prison. Bitcoin frauds rarely results in prison sentences.
- Gibbon1 5y agoMadoff stole from rich people. Bitcoin frauds prey on poor people.
- jokoon 5y agoYeah well the comparison did not stand in the first place.
- audiometry 5y agoYeah and moreover, the fraction of money invested in regulated public markets that’s been stolen/defrauded must be minuscule compared to the degree of theft and fraud in cryptocurrency.
- mjlee 5y agoThis has been discussed before: https://news.ycombinator.com/item?id=27606039 https://news.ycombinator.com/item?id=27606039 I'm not sure there's any new information since that article was written.
- animal531 5y agoYeah, they were stalling through their lawyer, but he has since then quit. No other information has been forthcoming as of yet.
- mdkdog 5y agoYeah, i almost feel sorry for those poor Bitcoin investors. until there are no more stupid people there will always be someone "smarter" to take their money. Bravó!