Re:$34M permanently locked into AkuDreams contract forever d...
by politician on Saturday April 23, 2022 @12:41PM
(#31135852)
That only worked because the funds didn’t bounce somewhere else first. Wire transfers are final.
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Re:$34M permanently locked into AkuDreams contract forever d...
by otterley on Saturday April 23, 2022 @01:25PM
(#31136248)
The wire transfer transaction may be final, but that’s not the end of the story. A court can subsequently compel the receiving bank or party to send the funds back to the sender.
Re:$34M permanently locked into AkuDreams contract forever d...
by politician on Saturday April 23, 2022 @01:52PM
(#31136521)
That’s true, but depending on the path, funds might end up in various jurisdictions, complicating the recovery story.
Re:$34M permanently locked into AkuDreams contract forever d...
by charcircuit on Saturday April 23, 2022 @03:46PM
(#31137771)
The same thing applies to crypto.
Re:$34M permanently locked into AkuDreams contract forever d...
by otterley on Saturday April 23, 2022 @04:15PM
(#31138068)
Do you always know who you’re trading with in crypto? How do you identify the counterparty to make the demand from? This isn’t a problem with ordinary transactions, where the two parties have regulated organizations making the trade on their respective behalf. Even in stock trades, where the counterparties are anonymous, there is a mechanism for reversing trades because the system was designed for it.
Re:$34M permanently locked into AkuDreams contract forever d...
by multjoy on Saturday April 23, 2022 @02:07PM
(#31136678)
Until the two banks agree that it isn't. Errors happen all the time.
Re:$34M permanently locked into AkuDreams contract forever d...
by politician on Saturday April 23, 2022 @02:46PM
(#31137123)
“The finality of wires is path dependent” is a statement that I would agree with.