News for hackers. Stuff that matters.

A comment on Mass of Transactions Leaving Crypto.com Wallets. Parent comment

Re:Mass of Transactions Leaving Crypto.com Wallets by solumunus on Monday November 14, 2022 @03:56AM (#33591639)
Of course they can if they're running on fractional reserves AKA fake liquidity. I don't think there is any regulation against them doing that.
[ Parent | on HN ]
Re:Mass of Transactions Leaving Crypto.com Wallets by oldgradstudent on Monday November 14, 2022 @07:43AM (#33593158)
In its terms of service, FTX was supposed to hold the customer assets at 1:1 ratio.

Not doing so is fraud, and there's already regulation against fraud.

[ Parent | on HN ]
Re:Mass of Transactions Leaving Crypto.com Wallets by lupire on Monday November 14, 2022 @07:44AM (#33593179)
It's totally illegal and the SEC is chatging everyone they can reach. But most are out of reach, because they are outsdt US and the Presidents refuse to use the military to defend USAns against finacial warfare.
[ Parent | on HN ]