4 ms·

I keep seeing the argument repeated ad nauseam about how a bank protects from X and Y you and can reverse fraudulent charges and so on. But as a customer of se

I keep seeing the argument repeated ad nauseam about how a bank protects from X and Y you and can reverse fraudulent charges and so on. But as a customer of several national US banks and having gone through the dispute process dozens of times in my life, in reality, I find that to be completely nonsense. I’ve had to deal with numerous incidents where someone stole my card, and the bank blames me (the customer) and then asks me to prove the money was stolen, only to have them make an arbitrary denial months later. It’s the same bogus argument people make for all kinds of insurance, until you go to make a claim, get denied for some obscure legal text in the policy and find out you were just being ripped off the whole time.

cecilpl2 4y ago
This is surprising to hear, as I have had the opposite experience. I have had many fraudulent transactions or unauthorized charges on various accounts, such as: * Random charges appearing for no reason * Clear case of stolen card with a series of unusual transactions. * Scam websites where I bought a product and never received it. * One egregious case where someone from a IP geolocated in China brute forced my VNC server password in the middle of the night and used my saved browser credentials to PayPal themselves over $10,000 from my linked chequing account. In all cases I have filed a dispute with the relevant institution and was fully and promptly reimbursed. In the latter case I had my money back in under a week. Transaction reversibility is a feature, not a bug!
crummy 4y ago
Have you ever had your crypto wallet stolen? What was the process like to get that back?
- DennisP 4y ago
  I have a lot of friends in the crypto space, and only one of them has lost any to theft. In that case, it was a SIM-swap for funds he had stored on a centralized exchange, rather than an attack on his own wallet. Meanwhile, my own credit card numbers were stolen twice.

cecilpl2 4y ago

This is surprising to hear, as I have had the opposite experience. I have had many fraudulent transactions or unauthorized charges on various accounts, such as: * Random charges appearing for no reason * Clear case of stolen card with a series of unusual transactions. * Scam websites where I bought a product and never received it. * One egregious case where someone from a IP geolocated in China brute forced my VNC server password in the middle of the night and used my saved browser credentials to PayPal themselves over $10,000 from my linked chequing account. In all cases I have filed a dispute with the relevant institution and was fully and promptly reimbursed. In the latter case I had my money back in under a week. Transaction reversibility is a feature, not a bug!

crummy 4y ago

Have you ever had your crypto wallet stolen? What was the process like to get that back?

DennisP 4y ago
I have a lot of friends in the crypto space, and only one of them has lost any to theft. In that case, it was a SIM-swap for funds he had stored on a centralized exchange, rather than an attack on his own wallet. Meanwhile, my own credit card numbers were stolen twice.