 | No, it's not a shitcoin, it's even worse, it's Wells Fargo. Once again, they're involved in yet another scandal. https://www.cnn.com/2023/08/03/business/wells-fargo-technical-issue-direct-deposits/index.html And this is just one bank. Cryptocurrency always gets the bad rap about scams. And it's true, there's a lot of scams. But the main argument for traditional finance was that "at least I'm safe from all these scams and getting defrauded". The banks are scamming hard. The difference is they're involved in next level scamming. They defraud on mass scales and in the billions. From funding the Mexican cartel to mass defrauding its customers. The difference between crypto and traditional finance, is you can remove the internal corruption with decentralization. Some stats and numbers comparing fraud with crypto.Wherever there is money there's gonna be fraud and scams. FTC scam losses in crypto in 2022: over $1 Billion from crypto out of a total of $8.8 Billion from reported scams in the US. FTC scams reports in crypto in 2022: over 46,000 To put this in perspective, 46,000 crypto claims in the US in 2022, is about the same number of fraud claims just from the Zelle banking app alone: Crypto hacks worldwide in numbers between 2016-2020: Amount of bank industry fraud: Amount of bank fines for misconduct just for 2020: How much first-party fraud is reported compared to crypto: Fraud comparison between payment methods: Where are scams coming from the most: (crypto would be included more heavily in first party fraud, scammer solicitation, and app fraud). [link] [comments] |
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