> saying it will cover all losses from the hack and is working with law enforcement officials to identify who is responsible.
Isn't Binance the one that needs to be prosecuted for negligent security? How does "a compromised laptop" lead to a $6bn wipe in a matter of minutes?
This is why banks are regulated, though I have no idea if/whether these platforms are regulated in any similar way.
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The customers surely have standing to sue Binance. But to close the gap between what you feel should happen and what could actually happen… exactly what crime could they be prosecuted for?
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> This is why banks are regulated, [...]
No, it's not. At least not historically.
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Generally it's the people who have intent to break the law who are prosecuted, not their victims.
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> This is why banks are regulated
Yes. Move fast and break things and forget governance... Cryptocurrency has always been dumb. You either con people out of their money or you lose yours.
I had someone approach me in 2017 or so because he wanted to do a rugpull coin operation. I said I was busy and didn't help, but I'd probably be much richer (and a piece of shit human) if I got involved.
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