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Ex-bank CEO gets 24 years after falling for crypto scam, causing bank collapse (arstechnica.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[+] [email protected] -10 points 3 months ago* (last edited 3 months ago) (1 children)

TBH I feel like it's much harder for anti-crypto ideologues to admit that crypto has non-scam usages. Or to admit that fiat currency is a scam so huge that it's literally destroying the planet.

[–] [email protected] 10 points 3 months ago (1 children)

to be fair, buying drugs or untraceable money transfers are totally a use case of crypto (basically everything that is illegal)

[–] [email protected] 2 points 3 months ago* (last edited 3 months ago)

untraceable money transfers

Crypto is very traceable though - every transaction that has ever happened is in a public ledger!

There's usually a transfer to or from fiat currency at some point, and there's been several cases where Bitcoin transfers have been traced to a real person using that.