News for hackers. Stuff that matters.

A comment on What Happened at Alameda Research. Parent comment

Re:What Happened at Alameda Research by pjc50 on Tuesday November 15, 2022 @08:14AM (#33608731)
The secret is that regulators can only have a fairly limited effect, and retrospectively. As well as the inherent jurisdiction difficulties in operating out of the Bahamas. Mind you, that's something crypto investors wanted: freedom from government!

There's a real "accountability overhang" not just in crypto but so many other things. Justice is slow and getting slower.

[ Parent | on HN ]
Re:What Happened at Alameda Research by oldgradstudent on Tuesday November 15, 2022 @03:36PM (#33614665)
> The secret is that regulators can only have a fairly limited effect

Not in this case.

A momentary glance from a distance at the balance sheet by a semi competent bank supervisor would have noticed the fraud.

The question: do you hold your users' assets in segregated account is easily asked and easily answered with no.

[ Parent | on HN ]