Originally published at: https://boingboing.net/2024/04/20/crypto-influencer-convicted-in-110m-scam.html
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I can’t believe that his ironclad “code is law; bruh” defense didn’t work out for him.
“I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.”
“I was involved with a team that operated a highly profitable trading strategy last week.” will probably become a finance-fed office joke for some time to come.
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Crypto Bros: “We don’t need laws and regulation around crypto - it’ll just limit how much money we can make off it, and it’s not necessary because ‘smart contracts’ replace laws! Anything allowed by the contract is just a highly profitable trading strategy!”
Also Crypto Bros: “No, not like that.”
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The scheme impacted both investors trading and the exchange itself
Once again showing that if you mess with the people with money, justice is swift and hard.
Attempt to cancel the exchange of power for the country? Kid glove treatment.
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So someone must be shilling AI crypto by now and I have not noticed because my brain might just reject seeing it.
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It was evident years ago that cryptocurrency markets are dens of scammers, hucksters and other assorted criminals.
I laughed out loud when I read that in the article. It’s a digital version of sovereign citizen woo.
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