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Although FTX was a crypto exchange the crimes committed were not dependent on blockchain technology. FTX is a company and was holding money and assets for its c
by Falcotech 4y ago
Although FTX was a crypto exchange the crimes committed were not dependent on blockchain technology. FTX is a company and was holding money and assets for its clients. It's somewhat similar to what Bernie Madoff did to his clients, before crypto was relevant.
Blockchain based cryptocurrency isn't going anywhere anytime soon. This will remind people to take self custody of their crypto and not leave it on an exchange.
- lazide 4y agoJust like cash is a crime magnet, so is Crypto at rest, and for the same reason. If anything, Crypto is easier to track and stop the looting, compared to if someone left a key to a warehouse containing a billion dollars in cash in it with no security cameras, which is what FTX seems to have managed to do.