Wells Fargo has paid more in fines since 2000s ($25b) than all of the money stolen via crypto hacks and exploits ($6.46b)
1 min read
Wells Fargo is one of the largest banks in the US and since the 21st century, they have paid 25b in fines related to harming customers. That is 3x the amount of money that has been stolen through crypto hacks and scams. To put it into perspective, Wells Fargo is only the 4th largest bank, imagine what the top 3 have paid in fines…..
Yes, crypto gets hacked and exploited from time to time, but honest hacks are because of the risks we have in crypto, which are decentralization and also smart contract risks. That is also one of the reasons why real yield in crypto usually gives out a higher % than traditional finance.
Source:
https://violationtracker.goodjobsfirst.org/parent/wells-fargo
https://defillama.com/hacks
submitted by /u/torpidtrotter
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