Schwab deposits $1.2 million into a customer's account by mistake...

[MoreLeverage]

It was one of the worst Wall Street mishaps in years: Citigroup accidentally wired $900 million last year to a group of lenders locked in a bitter dispute with the beauty company Revlon.

On Tuesday, a federal judge ruled that the recipients don’t have to have to return the cash.

Citi - hold my beer.

https://www.bloomberg.com/news/arti...nows-of-another-bank-making-big-payment-error

 

[bone]

It gets a bit more complicated - Citi was acting as administrator for a commercial lending agreement between two parties and the recipient honestly thought (and expected) it was a loan payment. $400M was returned and this will be appealed.

Citi - hold my beer.

https://www.bloomberg.com/news/arti...nows-of-another-bank-making-big-payment-error

 

[deepfkvalue]

This story is pretty funny because she's a 911 dispatcher, and probably thought that anything she said would be used against her, so she just ignored the calls. Turns out claiming ignorance of the law wasn't enough. Should have bought crypto and lost the keys, or at least yolo'ed it on weekly options.

 

[misterkel]

You mean she can keep it if it's bitcoin? No way of getting back ? Don't all blockchain activities are traceable ? I did google and bitcoin is traceable. Then why is millions stolen ?

Transactions are not reversible. Only the recipient wallet holder can initiate a return through another transaction. UNLESS - the entire blockchain is forked to reverse a single transaction, which would not happen. ETH did reverse a theft transaction a few years ago to make whole a few thousand investors. That split ETH into ETH and ETHClassic (which did not reverse the tx). You can see which fork one the battle, lol.

 

[BMK]

Don't all blockchain activities are traceable ? I did google and bitcoin is traceable.

Traceable and reversible are two different concepts.

 

[bone]

And that's when the FBI gets involved.

Should have bought crypto and lost the keys, or at least yolo'ed it on weekly options.

 

[d08]

None of the countries are viable choices. Brazil is still too close. Russia and Iran are too violent.

Russia isn't violent, you can hide away in many areas there as the country is huge. They won't extradite to US anyway. Same point with Brazil, they don't extradite to US. Closeness is irrelevant.

 

[JSOP]

Russia isn't violent, you can hide away in many areas there as the country is huge. They won't extradite to US anyway. Same point with Brazil, they don't extradite to US. Closeness is irrelevant.

Looks like she needs to cross off Brazil. https://en.wikipedia.org/wiki/List_of_United_States_extradition_treaties