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Crypto traders want payback after losing millions to Binance glitches
- Thread starter ajacobson
- Start date
wtf did they expect? binance is a total bucket shop, no clearing, no regulator watchdogs, no sipc insurance...
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The perfect profile to escape and not getting caught by the victims:
If all 700 traders wanted to act individually, they would, under the terms of service, have to pay more than $45 million in international arbitration fees for the chance to win a tiny fraction of that sum back.
A few of the millions of potential future victims that are/were blinded by greed:
Crypto's a vault of value. LOL.
You are only making money when the money is cash in the bank. Crypto's are no money, they can disappear in seconds. Just like air out of a balloon.
- largely unregulated
- borderless company
- with no headquarters
- shifting it's operations to different jurisdictions
- users have to agree to terms of use that waive their rights to class-action lawsuits
- damages are capped at 12 months' worth of trading fees
If all 700 traders wanted to act individually, they would, under the terms of service, have to pay more than $45 million in international arbitration fees for the chance to win a tiny fraction of that sum back.
A few of the millions of potential future victims that are/were blinded by greed:
- Had he been able to close his position when he wanted to, he said, he would still have 3,300 ether — worth about $10 million today.
- She started trading early last year with about $20,000 and said she had turned it into about $250,000 just before she lost everything during the May 19 outage, when she wasn't able to move her funds.
- Francis Kim, an experienced derivatives trader in Melbourne, Australia, who said he lost about $170,000 on May 19, when the app stopped working and he was unable to manage his funds.
Crypto's a vault of value. LOL.
You are only making money when the money is cash in the bank. Crypto's are no money, they can disappear in seconds. Just like air out of a balloon.
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Are you done rewriting the article? I already read it once.
let’s hope justice prevails..
When you wrote your post, my post was already 4 hours on this forum.
You need a few hours before you can react? Was the text to difficult to understand? Or did you need somebody else to write your reaction first for you?
I understand that you can get agitated as crypto diehard when you read the horrible truth. Not ideal news if you want to pump the crypto's. Yeah, the truth can be hard.
Yesterday again $100 millions disappeared in the hack of Liquid.
???
That message was extremely stupid. A forum is a place where people read and write messages on their free time and respond when they get a chance. I don't live on this forum, maybe you do and think everyone should respond to you immediately, but that's not the way it works. And as the info of your message states, it was written at 3:45 AM. What do you think most people are doing at 3:45 in the morning? Maybe you think I should drag out of bed and respond to you since you are such a high and mighty little princess?
Honestly that was the dumbest response I have ever heard. "You wrote your reaction 4 hours late on a forum"
I really do not care what you say anymore, because its all coming from an idiot. I just lost more respect for you after that comment...
The reality of "decentralised"