4 ms·

It's ludicrous for a stock brokerage with real mony at risk to pull an April Fools prank, let alone one that deals with a trader's buying power/balances. Ridicu

by markbao 18y ago

It's ludicrous for a stock brokerage with real mony at risk to pull an April Fools prank, let alone one that deals with a trader's buying power/balances. Ridiculous. Plus, I'm sure that there's some kind of SEC rule dealing with accurate reporting of a trader's balance. I doubt they did any due diligence before pulling this. (Or as kirse said, it could have been a bug—a very serious, untimely bug.)

chris11 18y ago
Right now, I am having trouble believing that this was a prank. I just can't believe that anyone would be stupid enough to do this. And if it were a prank, why would Zecco let trades be executed? I doubt that any prankster would want the company to be executing millions of dollars of invalid trades. I have a lot easier time believing this was an untimely bug.
- patio11 18y ago
  I just can't believe that anyone would be stupid enough to do this Seriously. They're in a hyper-regulated, extraordinarily conservative industry. It would be like your doctor coming over and saying "Hey, bad news chap, you've got pancreatic cancer and have about 6 hours to live" for the lulz.
  - sam_in_nyc 18y ago
    I would pay for that. And also, for somebody to sneak into my apartment and set all the clocks fast by 10 minutes.
sam_in_nyc 18y ago
I use Zecco... but unfortunately didn't check it out for April Fool's. I guess I was thinking too rationally, at the moment. But if I did see a balance for millions, being a hacker, I certainly would have invested every dollar of it into some highly volatile and ridiculous stock. I wouldn't expect it to execute. My questions are the same. How could they even think of doing such a stupid prank.. and then on top of that, allowing it to execute. Two orders of magnitude stupid. I think the SEC should investigate, because it looked like on the morning of April 1st, Zecco had $1m+ per user on margin. There's no way they could have actually had that cash on hand if people did an "investment run." This really could have put Zecco under, and made a mess for whoever is backing them, and the FDIC. Disclosure: I hardly know anything about finance.

by markbao 18y ago

chris11 18y ago

Right now, I am having trouble believing that this was a prank. I just can't believe that anyone would be stupid enough to do this. And if it were a prank, why would Zecco let trades be executed? I doubt that any prankster would want the company to be executing millions of dollars of invalid trades. I have a lot easier time believing this was an untimely bug.

patio11 18y ago
I just can't believe that anyone would be stupid enough to do this Seriously. They're in a hyper-regulated, extraordinarily conservative industry. It would be like your doctor coming over and saying "Hey, bad news chap, you've got pancreatic cancer and have about 6 hours to live" for the lulz.
- sam_in_nyc 18y ago
  I would pay for that. And also, for somebody to sneak into my apartment and set all the clocks fast by 10 minutes.

sam_in_nyc 18y ago

I use Zecco... but unfortunately didn't check it out for April Fool's. I guess I was thinking too rationally, at the moment. But if I did see a balance for millions, being a hacker, I certainly would have invested every dollar of it into some highly volatile and ridiculous stock. I wouldn't expect it to execute. My questions are the same. How could they even think of doing such a stupid prank.. and then on top of that, allowing it to execute. Two orders of magnitude stupid. I think the SEC should investigate, because it looked like on the morning of April 1st, Zecco had $1m+ per user on margin. There's no way they could have actually had that cash on hand if people did an "investment run." This really could have put Zecco under, and made a mess for whoever is backing them, and the FDIC. Disclosure: I hardly know anything about finance.