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Re:Genesis' Crypto-Lending Unit Is Suspending Withdrawals in... by exabrial on Wednesday November 16, 2022 @11:22AM (#33625683)
Then I'll pull it out as cash and they can fight me for it.
Re:Genesis' Crypto-Lending Unit Is Suspending Withdrawals in... by automatic6131 on Wednesday November 16, 2022 @11:28AM (#33625792)
If Genesis is found to be operating as a ponzi scheme (lol, lmao), then the bankruptcy court will send you a bill for the money you've withdrawn. You can try to fight that in court - but you'll lose. If you try to fight for it another way, I wish you the best of luck.
Re:Genesis' Crypto-Lending Unit Is Suspending Withdrawals in... by FrobeniusTwist on Wednesday November 16, 2022 @01:18PM (#33627865)
Your advice above about maybe not spending recent withdrawals is really good. I just want to point out that recovery of "preferences" (which is what these withdrawals might, possibly, be) doesn't depend on there having been a Ponzi scheme, or any fraud at all, in the underlying business. Identifying and recovering preferential transfers is one of the main jobs of a bankruptcy trustee, and they are given legal superpowers with which to do their jobs.
Re:Genesis' Crypto-Lending Unit Is Suspending Withdrawals in... by berberous on Wednesday November 16, 2022 @11:25AM (#33625730)
Cash is fungible. Unless you pull out all your money, they can potentially go after an amount equal to whatever you withdrew…