benkyo

A cautionary tale for HN::My mother's bank accounts were hacked earlier today. The attackers seem to be working from inside a PayPal call center.The attack started when my mother received a legit email from PayPal. The email was a money request for $1,500 to "Gerald". My mother panicked and misinterpreted this email as if a payment were already issued, not just a request. So she called...

First Republic just announced $30b of deposits from the larger banks. This has me thinking:What actually happened? Surely in today's world nobody is actually driving piles of physical cash from one bank to another. Surely it must be all be digital.But if it's all digital... and if it's not on blockchain... then how does one bank actually ensure another bank has the funds? And what prevents...