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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.
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.

https://bam.kalzumeus.com/archive/no-payments-are-final/

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.