News for hackers. Stuff that matters.

A comment on Woman loses over $44k after downloading third-party app to buy fish. Parent comment

Re:Woman loses over $44k after downloading third-party app t... by fbdab103 on Saturday September 23, 2023 @02:01PM (#37625691)
"Look, idiot, if you do not perfectly follow all of this op sec, your money could disappear at literally any moment. In which case, sucks to be you. Oh, and also those crypto exchanges where people leave their money - those also have a good chance of disappearing in the night. Best to keep it under the digital equivalent of your mattress."

I will stick with a bank which is regulated to protect my money, and heads will roll if funny business happens.

[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by worksonmine on Saturday September 23, 2023 @02:30PM (#37625993)
> I will stick with a bank which is regulated to protect my money, and heads will roll if funny business happens.

When did that ever happen? Did even a single head roll for the bullshit with subprime mortgages? Some people get a bonus when the scam is big enough.

[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by chrismcb on Sunday September 24, 2023 @02:44AM (#37630709)
Well some banks went out of business.
[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by uoaei on Saturday September 23, 2023 @02:17PM (#37625848)
> heads will roll if funny business happens

To be fair, a lot of the crypto hype is predicated, if indirectly, on how few heads roll when (barely quasi-legal) funny business happens through official institutions.

[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by RHSeeger on Saturday September 23, 2023 @02:58PM (#37626280)
A. "I lost my money while it was in my bank... I got it back, but nobody got in trouble!"

B. "I lost my money while it was in crypto... I didn't get it back and nobody got in trouble!"

I'm not really sure B sounds like much of an improvement over A.

[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by uoaei on Saturday September 23, 2023 @03:18PM (#37626445)
I'm not saying they're right, just saying that "regulations will help" won't really be a big selling point among those for those who already have lost trust in such institutions.
[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by suckitsam on Saturday September 23, 2023 @02:53PM (#37626235)
I too love my bank which, like most others, is known for its lack of funny business, owing to the regulations that it definitely doesn't skirt at every opportunity (otherwise its execs would go to jail for doing crimes, obviously)
[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by thrill on Saturday September 23, 2023 @03:28PM (#37626549)
Like all those Wells Fargo execs? Uh huh.
[ Parent | on HN ]
Re:Woman loses over $44k after downloading third-party app t... by fbdab103 on Saturday September 23, 2023 @04:07PM (#37626972)
Probably a poor choice of words, but with a bank I have strong assurances that my account will not be drained tomorrow without possibility of recourse.

The government went above and beyond (generating moral hazard) in protecting SVB clients.

[ Parent | on HN ]