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Citigroup credits account with $81tn instead of $280
- ratg13 2y agoThe old accidentally putting the account number in the amount field. The fact that this was overlooked by multiple people looking at the transaction is the scary part.
- disgruntledphd2 2y agoApparently not, the article notes that the amount field cam prepopulated with 15 zeros.
- The_suffocated 2y agoThen shouldn't $280 became $280\times 10^15 = $280000\times 10^12 = $280000tn dollars? Why $81tn ? Even if the currency is Brazil real, it should evaluate to about 48,000 trillion USD.
- TZubiri 2y agoBut was it overlooked though? We are looking at it
- x______________ 2y agoNo money left the accounts of Citigroup, occurred in April 2024 and was considered one of 10 $1b+ "near miss" incidents during last year, down from 13 during 2023.
- helsinkiandrew 2y agohttps://archive.ph/L2LAY https://archive.ph/L2LAY
- fennecfoxy 2y agoI mean the 1% only have skill in government lobbying and increasing the wealth that they hoard; they're otherwise quite inept. So makes sense I suppose.
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- justinclift 2y agoWould have been super funny (!) if Citi lets people directly purchase BitCoin from their accounts, and the person had then decided to purchase all of the BitCoin in existence (so far) before the transaction was reversed. :D Argentina could have fixed its economy overnight. ;)
- TZubiri 2y agoI'm not an expert. But they probably would not be able to buy 81t of bitcoin. Maybe 1m? Depending on who they were and what bank they use
- justinclift 2y agoDunno. I'd assume it'd have to be done in quite a few transactions, but if they'd magically had an automated system ready to do just that then 81t gives quite a lot of headroom for even a rapidly increasing price. :D
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- andirk 2y agoAll current bitcoin in current existence is max $2 to $3 trillion USD. I don't think we consider all currency on the planet to equal $81 trillion USD or even half that.
- sfmike 2y agoif it has a apy of a few percent wouldn't they make millions in interest in a day off the mistake and be able to keep it/
- TZubiri 2y agoLol why would they be able to keep the interest but not the money?
- omoikane 2y ago> The series of near misses at Citi highlights how the Wall Street bank is struggling to repair its operational troubles nearly five years after it mistakenly sent $900mn to creditors engaged in a contentious battle over the debt of cosmetics group Revlon https://news.ycombinator.com/item?id=24222045 https://news.ycombinator.com/item?id=24222045 - Citibank's $900M Blunder (2020-08-20, 296 comments)
- bigfatkitten 2y agoIf you're in the mood for other hilarious Citibank fuckups, the Australian Capital Territory Court of Appeal's decision in Stergiou v Citibank Savings Ltd [2005] ACTCA 15 is very much worth a read. https://austlii.edu.au/cgi-bin/viewdoc/au/cases/act/ACTCA/2005/15.html https://austlii.edu.au/cgi-bin/viewdoc/au/cases/act/ACTCA/20...
- gadiyar 2y agoThis was really hilarious! And this last judgement has all of the comical history from the beginning!
- ksec 2y agoI dont understand how it one could credit $81T when it is even more than the entire market cap of US stock market.