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That also really stuck out to me. "We're aren't sure customer's recorded balances are accurate and it may be possible for money to simply appear or disappear i
by jwitthuhn 4y ago
That also really stuck out to me.
"We're aren't sure customer's recorded balances are accurate and it may be possible for money to simply appear or disappear in our system, but we definitely have enough money to pay out everyone's balance (which as already mentioned is inaccurate)"
- bilbo0s 4y agoThis will be a hard lesson but a good lesson for a lot of people. To be honest, crypto doesn't even need exchanges. Some even have smart contract capability that can explicitly outline the terms and conditions of any single trade. An exchange is superfluous. So as soon as you see people going to an exchange en masse, to trade assets with smart contracts on them, you know something is out of place.
- expazl 4y agoMy take is more like "We might technically be in debt since our system recorded exchanges of now worthless crypto for other denominations, but we're going to manually go back on those orders and claims its due to system errors." But lets see how this turns out.