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This has almost nothing to do with crypto. There's no "hurr durr code is law" clever hacking involved, the money was straight up stolen from a centralized exch
by rippercushions 4y ago
This has almost nothing to do with crypto. There's no "hurr durr code is law" clever hacking involved, the money was straight up stolen from a centralized exchange in the digital equivalent of a bank robbery and is now being laundered in plain sight.
- jonathankoren 4y ago> This has almost nothing to do with crypto Can we please not No True Scotsman this? Crypto “the future of money” is completely unregulated and nothing but full of scams hitherto unseen since the days before banking regulations. You’d be hard pressed find a bank that can execute a rug pull like this. While I’m no fan of Bank of America, I’ll keep my “dirty fiat” there and sleep soundly, just like I slept soundly in though the Great Recession.
- sam345 4y agoagree but way better places to keep your money than BOA
- rippercushions 4y agoSure, we're on the same page, I'm just saying that the actual heist here could, from a technical point of view, been executed at Bank of America as well. (Although sneaking a backdoor in there and getting money out would be orders of magnitude harder.)
- jonathankoren 4y agoIf you rob a bank, the depositors don’t lose their money. Same as if the bank goes under.
- doliveira 4y agoHasn't crypto exploded in popularity exactly because of these centralized exchanges?