By Walt Hickey Bank A crypto scam felled an entire bank in Kansas, after the CEO of Heartland Tri-State Bank sought a $12 million loan from a client to get him out of what was described as a crypto investment, promising a 10-day return period with an offer of $1 million in interest. This was, in retrospect, an obvious scam, and so the bank was pretty screwed. A tip of the transaction made its way to the state bank commissioner, which immediately shut the bank down and declared it insolvent, and it expects that the insurance fund will have to take a loss of
Numlock News: September 28, 2023 • Stolen Bases, Elephant Trunk, Chaebol
Numlock News: September 28, 2023 • Stolen…
Numlock News: September 28, 2023 • Stolen Bases, Elephant Trunk, Chaebol
By Walt Hickey Bank A crypto scam felled an entire bank in Kansas, after the CEO of Heartland Tri-State Bank sought a $12 million loan from a client to get him out of what was described as a crypto investment, promising a 10-day return period with an offer of $1 million in interest. This was, in retrospect, an obvious scam, and so the bank was pretty screwed. A tip of the transaction made its way to the state bank commissioner, which immediately shut the bank down and declared it insolvent, and it expects that the insurance fund will have to take a loss of