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A comment on The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees. Parent comment

Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by remmargorp64 on Tuesday June 30, 2020 @01:57PM (#23692828)
I don't understand how banks can claim to have federal FDIC-insured protection of $250,000 per depositor if they don't actually reimburse you when a simple wire transfer fraud happens??
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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by dragonwriter on Tuesday June 30, 2020 @02:04PM (#23692902)
Because the insurance is against the bank being unable to pay deposits due to bank insolvency. The FDIC does not insure depositors against wire transfer fraud.
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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by remmargorp64 on Tuesday June 30, 2020 @05:59PM (#23695268)
I did some more research and it looks like the EFTA (Electronic Fund Transfer Act) protects electronic funds transfers (EFTs) in bank accounts, not the FDIC.

https://www.thebalance.com/banking-fraud-protection-315828

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