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This is just crazy: "Crypto.com “Accidentally” Transfers $400M to the Wrong Wallet" [0]. How is that sort of mistake even possible? [0] https://thechainsaw.com

• pjc50 4y ago
  No safety rails. Crypto is an unconfirmed transaction system that does not require confirmation from the recipient. At least in this case they were able to get it back, it's trivial to transfer crypto to a wallet to which nobody has the password and it's forever unrecoverable. (If I were designing one of these things, which I am not, I would make a transaction payee-initiated, like the issuing of an invoice which the payer signs)
• chinathrow 4y ago
  Not defending crypto in any form or this dumb move but that has happened before in traditional banking as well. https://www.whio.com/news/trending/50-billion-accidentally-deposited-louisiana-familys-bank-account/CCD22N6WMNGU3INCIVIET42LEM/ https://www.whio.com/news/trending/50-billion-accidentally-d...
  • dncornholio 4y ago
    Accidentally moving money to a wrong account, sure.. mistakes happen. But in this case, it was during a reserve audit.. and the address was of a 'whitelisted' exchange. This brings suspicions crypto wallets are covering their asses, that they share currencies to proof false customer reserves..
  • abrookewood 4y ago
    Yes, you're right, that's worth pointing out. Both instances are mind boggling.