fewunderstandLegendary
Posts: 286 · Reputation: 5964
#1Nov 17, 2021, 10:42 PM
So Coinbase finally settled for around a million bucks over their role in the Cryptsy mess. Took them three years to get here.
Coinbase's $1 Million Settlement Over Cryptsy Hack
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eric.degenSenior Member
Posts: 21 · Reputation: 1427
#2Nov 20, 2021, 12:22 AM
Good to see some accountability. I mean, if you're involved in shady stuff, you should be ready to face the music... This shows regulators are watching.
Wait, is this the first case like this? Makes you think about exchanges like Binance and Huobi dealing with stolen funds. They probably think they’re safe under their laws.
greg_walletNewbie
Posts: 53 · Reputation: 20
#4Nov 20, 2021, 07:44 AM
Not exactly a judgment, though. They didn’t go to trial. Just a long settlement after years of legal back and forth. Too bad, could’ve set a better precedent.
Totally agree! This should teach legit exchanges to keep dodgy assets off their platforms. It’s a financial transaction, so laws apply here. Can't be too chill about regulation.
sam_rocketSenior Member
Posts: 42 · Reputation: 1413
#6Nov 21, 2021, 11:31 PM
Yeah, really wish they had gone to court. So much potential learning here for the future cases. But I guess Coinbase just wanted to cash out instead of dealing with the risks.
I mean, if they really didn’t know what they were doing with AML/KYC, that’s kinda wild. But as long as they’re big and connected, who cares, right?