What do you mean? Are you saying FTX wasn't hacked by an anonymous hacker?
Banks reverse transactions sometimes. It sounds like in many cases the reason they can't be reversed is because the money got converted into cryptocurrency.
>Wire Fraud Recovery is Difficult, but Possible[1]
>When the stolen funds arrive in the fraudster’s bank account, they engage a network of money launderers who immediately withdraw funds in cash, wire the money to a number of different accounts and/or convert it to cryptocurrency.[1]
>A full recovery of lost funds was only possible in 29% of cases. In 40% of the cases, less than 10% of the funds were recovered.[2]
That means that 60% of the time at least 10% of the money is recovered.
>Cyber perpetrators are moving stolen funds between bank accounts and cryptocurrency wallets at a rapid rate.[2]
What do you mean? Are you saying FTX wasn't hacked by an anonymous hacker?
Banks reverse transactions sometimes. It sounds like in many cases the reason they can't be reversed is because the money got converted into cryptocurrency.
>Wire Fraud Recovery is Difficult, but Possible[1]
>When the stolen funds arrive in the fraudster’s bank account, they engage a network of money launderers who immediately withdraw funds in cash, wire the money to a number of different accounts and/or convert it to cryptocurrency.[1]
>A full recovery of lost funds was only possible in 29% of cases. In 40% of the cases, less than 10% of the funds were recovered.[2]
That means that 60% of the time at least 10% of the money is recovered.
>Cyber perpetrators are moving stolen funds between bank accounts and cryptocurrency wallets at a rapid rate.[2]
[1] https://www.certifid.com/article/how-to-recover-from-wire-fr...
[2] https://blog.alta.org/2021/04/survey-title-professionals-tar...