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A comment on SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon. Parent comment

Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by jwblackwell on Monday June 28, 2021 @06:10PM (#27668897)
> it's rare for gigantic new flaws to emerge

There are countless instances of rouge traders, high level financial crime and corruption.

Wirecard is one recent example costing billions. The Libor scandal another that comes to mind.

[ Parent | on HN ]
Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by NicoJuicy on Monday June 28, 2021 @07:32PM (#27669707)
Who were the victims with wirecard?

They faked the numbers, but they didn't manage people's money.

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Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by rawtxapp on Monday June 28, 2021 @07:39PM (#27669768)
I can't tell if you're sarcastic or not. In case you're serious, you don't see how a company with a market cap of 28B$ going belly up causes damage to investors, the markets, their partners, clients and employees?
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Re:SafeDollar ‘stablecoin’ drops to $0 following DeFi exploi... by NicoJuicy on Tuesday June 29, 2021 @02:59AM (#27672735)
The stock going belly up is the consequence of the fraud, but not the actual fraud. Just like the other people you've mentioned.

Eg. Their clients switched payment processor.

When a btc exchange frauds or a coin hacked or a smart contract is bugged, they get away with all your money. Which is the actual fraud.

In some cases they post a postmortem on medium and call it a day.

I don't think wirecard's fraud is comparable with all the crap in crypto town.

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