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Quote checks out. “If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” -- J. Paul Getty

ctvnews.ca

Citibank sent a hedge fund US$175 million by mistake. Now they can't get it back

Citibank has a big problem: It mistakenly wired roughly US$175 million to Brigade Capital Management, and the hedge fund hasn't returned the money.

2:38 AM · Aug 25, 2020Twitter Web App

Replying to

@jespow

Trust Bitcoin better than bank !!

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Actually, it's still not the bank's problem.

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Too big to be a success & too big to fail.

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😂

yojoe (@yojoe@librem.one)

@_yojoe_

Aug 25, 2020

Replying to

@jespow

„Operational mistake“. #Bitcoin fixes this - NOT! But almost everything else...

Replying to

This is why banks are vulnerable to double spend from syncing challenge of classic primary and backup server architecture... reversing funds sent erroneously can get very messy

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Kraken Support

@krakensupport

Aug 25, 2020

(1/1) Hi Liquigate, Thank you for your suggestion. We are not able to offer multiple withdrawal fees as Kraken is no a wallet service. We charge a flat withdrawal fee to cover the cost of moving funds in our hot wallets and/or to cover withdrawal transaction fees.

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Replying to

it's not like the Fed can't just print the $175 million and give it to Citi. US taxpayers are good for it

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