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Comments (30)
I’m bullish on BTC but it’s not a remedy for scams and thefts.
Worth noting that in situations where you accountant steals your money, there is often no recompense.
Insurances and government protection schemes will not cover malpractise, and your only option is to sue the thief, who will likely have fled the country with a new identity.
People criticise bitcoin for the irreversible transactions. But there are plenty of fiat transactions that are also irreversible.
For reference, this below Is what the article mentioned in the photo says:
Jamaican Olympic sprinter Usain Bolt was shocked to discover $12 million missing from an account he had with Kingston-based investment firm Stocks and Securities, according to his lawyer.
Bolt was recently told there was only about $12,000 remaining in the account, his lawyer Linton P. Gordon said in a phone interview. The account was part of Bolt’s retirement and lifetime savings.
“It’s distressful news for anyone,” Gordon said on Wednesday. “And certainly in the case of Mr. Bolt, who established this account as part of his private pension.”
Jamaica’s Financial Services Commission on Tuesday said it had installed its own temporary manager at SSL, following reports of allegations of fraud that had earlier prompted the commission to put the bank under enhanced oversight.
SSL did not immediately respond to calls and emails requesting comment.
Gordon said regulators have not communicated with him or his client. If Bolt does not see the money returned within eight days, Gordon said he plans to take the case to the Supreme Court in Kingston.
Bolt, an eight-time Olympic gold medal winner, is considered the world’s fastest man, holding world records in the 100-meter and 200-meter races. On Monday, Bolt quoted lyrics on his Twitter account that, in part, read: “The History of Evil…What is the Root?…MONEY.”
[link](https://fortune.com/2023/01/18/usain-bolt-scam-bank-jamaica-12-million-savings-lost-olympic-gold-sprinter/)
ahh yes, cause there is no scam in bitcoin environment. gfys
He must’ve banked with Bank of America. lol
Thank goodness no one has been scammed out of bitcoin
He had his money at an investment firm. Someone must have invested it very poorly.
They gave him a run for his money
Because this never happens with Bitcoin!
If he only kept his 570 BTC in a non-custodial wallet…
He had it in bank of american 🤣
So he lost ALL his money but 12k?
He could outrun any man but not his own stupidity. Tragic.
Eggs & baskets
Oh yeah lol no one has ever lost money from a bitcoin firm
He can sell some of his Yohan Blake watches for cash
https://chrono24.app/richardmille/olympic-worn-yohan-blake-tourbillon-rm38-prototype–id24536219.htm
Which bank was this? BoA or other?
Is it real?
It was managed by himself?
If so, risk management? Etc etc etc^2
However, that’s you get when you put your faith in shitcoins
Lol if he had bitcoin he’d be in the red like the majority of cryptards
Lol… because no one ever gets scammed out of their bitcoin
He kept 12 million in cash?!
he can live comfy from ads. hes famous
This is sad, there is also a cartoon character based on him breaking the system, new world record!
Damn, that sucks. Does that mean he will be running again?
so why he did it for?
Hell do one commercial come Olympic times and he will be set for life…again
Title should be “Stack Sats and Don’t Use Leverage”
you are welcome https://freemoneycoins.wordpress.com/
I mean, if he had a $12m account that disappeared, it was probably from a crypto wallet lol.
Scams and disappearing money don’t often occur with banks and other centralized money management entities. And when they do happen, they are much easier to resolve, because you can do so with a centralized party.
What scam was it? Did he have all 12 million in crypto?