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Crypto Bank Execs Suffer Existential Crisis After Their Friends Steal Everyone’s Info and Get Caught by Regulators

BitcoinCrypto NewsHack 1 Doug Martinez August 22, 2024

An illustration: A cartoon bank executive sits at a desk amidst chaos; papers are scattered everywhere; his computer screen displays an image of a hacker in sunglasses holding up a "Gotcha" sign while regulators stand behind him with handcuffs ready to be applied, as he looks on in despair and confusion. The background is filled with images of data breaches and cybersecurity warnings flashing by like TV screens. In the corner, three empty chairs sit at his table representing the departing executives; one chair has a note that reads "See you later".

The crypto bros are really getting burned now! Three execs at a bank that’s friendly with cryptocurrency have left their jobs due to regulatory crackdowns – you know what they say: “you can’t trust anyone in this industry except for maybe me, but I’m not here to make promises”. First off, the bank was hit by some cyber scum who stole customer info and then decided it would be a good idea to leak that data because… well, why wouldn’t you? And if all of that wasn’t enough, the Federal Reserve Board came in with an enforcement action for being super bad at following rules – I mean, failing to have anti-money laundering practices is like not wearing sunscreen on a beach vacation.

Source: cointelegraph

Execs at crypto-friendly Evolve Bank leave amid regulatory crackdown: Report
https://cointelegraph.com/news/three-execs-crypto-friendly-evolve-bank-leave-regulatory-crackdown-data-leak-report
Three executives at Evolve Bank & Trust have left the crypto-friendly bank following setbacks, including a May cybersecurity breach and a June enforcement action, according to a report by Jason Mikula of FintechBusinessWeekly.com.  According to Mikula, the bank’s chief credit officer, corporate controller, and chief lending officer for open banking have left their roles. Cointelegraph corroborated this report against the executive’s LinkedIn accounts and Evolve’s public job listings. Evolve did […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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