Those are probably SGD, not USD. So a bit less, but still a considerable damage.
Woman loses over $44k after downloading third-party app to buy fish
41–50 of 67 posts
Re: Woman loses over $44k after downloading third-party app to buy fish
#42My wife had a $50k transfer initiated yesterday from her savings account (Bank of America). She was able to cancel the transaction by calling the bank in time, but still have no idea how it happened. Uses an iPhone 12 and hasn't downloaded any new apps in a while. Primarily uses a Mac Air but sometimes does banking on a Windows machine but is admin-managed by her (large) corp.
Getting scary out there...
Edit: Has 2FA enabled
Re: Woman loses over $44k after downloading third-party app to buy fish
#43Earlier quoted context omitted.
To be fair, at Cuban scale that's your hot wallet.
Crypto aside, I have idly wondered how/where the mega rich keep their money. Is there a money manager effectively controlling a Schwab account with $1+ billion dollars? How do you minimize the blast radius to prevent internal/external loss of control? Even sub-dividing a fortune across N investment managers still leaves enormous targets painted on those accounts. Or is it the more implicit threat that you do not stea…
People who aren’t rich usually cannot understand how very little of it is typically liquid.
I sold some land, a guy sold me a Ferrari for it. I sold the Ferrari, never even saw it. He just couldn’t be bothered and wanted the land right then.
Re: Woman loses over $44k after downloading third-party app to buy fish
#44My wife had a $50k transfer initiated yesterday from her savings account (Bank of America). She was able to cancel the transaction by calling the bank in time, but still have no idea how it happened. Uses an iPhone 12 and hasn't downloaded any new apps in a while. Primarily uses a Mac Air but sometimes does banking on a Windows machine but is admin-managed by her (large) corp. Getting scary out there... Edit: Has 2FA…
2FA enabled?
Re: Woman loses over $44k after downloading third-party app to buy fish
#45I find it interesting that many people lament crypto about lack of transparency and how we went through this and that and that's why we have these sort of regulations in the legacy banking system, etc.. etc.. The reality is that, these regulations mostly exist in the US (through credit card protection), and some in the EU. For the rest of the world, if you got your account siphoned, you are mostly on your own. And ab…
You have credit from one continent good in another continent, there was some minor fraud and you make an argument that this somehow equates this intercontinental banking system with online ledger of tokens where the money markets for these tokens are routinely involved in billion dollar fraud criminal cases?
No, these things are not the same.
Re: Woman loses over $44k after downloading third-party app to buy fish
#46My mom always says no to any marketing offers. Last time I thought she was stupid for missing out on deals, but now I think she's a genius for having a strong spam filter and delegating the rest to her "IT" son. The amount and sophistication of scam is very worrying.
My parents have always had the policy of, "if I didn't call you, I don't want it." I didn't understand it as a kid (being told to hang up the phone a lot), but the policy has saved us all a lot of heartache and I've adopted it for myself.
You could be my sibling.
Re: Woman loses over $44k after downloading third-party app to buy fish
#47Earlier quoted context omitted.
It's mind boggling how crypto people still trust hot wallets that run as fucking browser extensions.
The reality is that relying on a cold storage wallet for security is just too much overhead when it's competing against a biometric scanner to authorisar a transaction that can be reversed with a phone call.
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Re: Woman loses over $44k after downloading third-party app to buy fish
#48Seems like banks really should have some kind of extra security mode that requires app verification for anything not whitelisted.
Especially when a lot of scams go through crypto. I should be able to say "I do not ever buy any cryptocurrency, nor do I do any hand picked random investments, don't let me do anything but pay for stuff at retail stores or online sites in the top 100 largest without app verification".
Re: Woman loses over $44k after downloading third-party app to buy fish
#49My wife had a $50k transfer initiated yesterday from her savings account (Bank of America). She was able to cancel the transaction by calling the bank in time, but still have no idea how it happened. Uses an iPhone 12 and hasn't downloaded any new apps in a while. Primarily uses a Mac Air but sometimes does banking on a Windows machine but is admin-managed by her (large) corp. Getting scary out there... Edit: Has 2FA…
2FA enabled?
Yes!
Re: Woman loses over $44k after downloading third-party app to buy fish
#50Earlier quoted context omitted.
I don't know. But if you have $870K in crypto and don't use a hardwallet, I kind of don't feel bad for you.
"Look, idiot, if you do not perfectly follow all of this op sec, your money could disappear at literally any moment. In which case, sucks to be you. Oh, and also those crypto exchanges where people leave their money - those also have a good chance of disappearing in the night. Best to keep it under the digital equivalent of your mattress." I will stick with a bank which is regulated to protect my money, and heads wil…
I too love my bank which, like most others, is known for its lack of funny business, owing to the regulations that it definitely doesn't skirt at every opportunity (otherwise its execs would go to jail for doing crimes, obviously)