Hi everyone. Apologies about the incorrect pronouncing of “Fried”. Hopefully SBF doesn’t mind. Thanks for watching!
@tibbydudeza
Ай бұрын
Should have called him Sam Bankman Fraud.
@ManuelBasiri
Ай бұрын
No need for an apology my friend. Your analysis and content are priceless. What's a little mispronunciation in the middle of so much goodness.
@erikschmidt476
Ай бұрын
"Sam Bankman Fraud" is the only correct pronounciation.
@sealsharp
Ай бұрын
I thought it was a dedicated joke.
@paulscottrobson
Ай бұрын
I think he's got more things to worry about. Great video, I didn't know this. The use of random() in a financial Python script is hilarious. Maybe I could get my bank to do that with my balance :)
@andersondamasceno
Ай бұрын
"If you are commiting fraud, maybe don't name your variables based on the illegal acts you're doing" We have to draw a line here. They may break the law, but break good code practices? That's too much, ma'am. 🤭
@dvof5198
Ай бұрын
Hear hear 👏🤣
@michaelteegarden4116
Ай бұрын
Hiding the illegal acts by obfuscating the code is totally against Python's ethos. It just ain't "Pythonic." :D
@jochenkraus7016
Ай бұрын
@michaelteegarden4116 Yes, even if you're the only person using that code, you might have to work on it or bugfix in the future and then you want to understand what it's supposed to do.
@honor9lite1337
Ай бұрын
It's Pythoxic. 😱@@michaelteegarden4116
@zimcoder
Ай бұрын
Above all else follow good coding practices, use easy-to-read variable names.
@smanqele
Ай бұрын
On the other hand, the code is great example how to write good self-documenting code that even a politician can read and understand. As coders we all need to read it
@comatose3788
27 күн бұрын
Ya, I love building a major project that takes years in a way my wages suffer until I'm replaced by anyone.
@capnkirk5528
Ай бұрын
I lost a job because the SVP asked me to make backend changes (direct edits) to a database and I refused. There was only one witness, and HE was the one who had the idea. There was also only one person internally with the knowledge, skill and privilege level to make the change (and only one or two people on the vendor's team, and the chances of anyone ever noticing were miniscule). Best thing that ever happened to me though; my next job was a big career improvement. If someone asks you to code something you KNOW is (or should be ) illegal, it's time to move on.
@ManuelBasiri
Ай бұрын
Respect to developers who also follow their personal code of honour.
@Stisse12
Ай бұрын
Respect!
@Mr.Cockney
Ай бұрын
And they are also saving their own asses…
@jwenting
Ай бұрын
been there, twice. and yes, lost my job over it both times.
@pembatamang8233
Ай бұрын
Who is Spv ?
@januslast2003
Ай бұрын
And don't forget, many people on Wall St thought SBF was a genius. They're still there, and making millions.
@ml.2770
Ай бұрын
And they're still massively dumber than they believe they are.
@undeadpresident
Ай бұрын
They have the same mentality and operate in the same kind of pyramid scheme which is the federal reserve system, which as standard practice also gets their finances by typing the number into a computer. Thing is that they come at you with guns if you even try to live outside their system, let alone put a halt to it...
@FortyTwoAnswerToEverything
Ай бұрын
Just like "Elon Musk genius". Aside from some elementary programming he did when he was young, he does nothing but just "run" his companies to generate himself billions on top of the stock market and government funding.
@honor9lite1337
Ай бұрын
Money is power is influence.
@undeadpresident
Ай бұрын
@@honor9lite1337 Only to the extent that people regard money as their god and have no moral grounding outside of it.
@RydarkVoyager
Ай бұрын
I once worked as a lead developer on a DoD ballistic missile defense program back in the late eighties. Much of the code used FORTRAN, with a sprinkling of a newly invented language called "C" that nobody heard of (and called it a fad). Despite "C" code already looking incomprehensible at that time, and FORTRAN being naturally ridiculous, the USAF Program Office wanted to obfuscate the code (different from encryption) because they were worried about security. We were working on rocket science level code, and trying to make it comprehensible was not on the priority list. The project was cancelled after the election.
@Fishster
Ай бұрын
On PDPs by any chance?
@ryanlak1234
Ай бұрын
Was the project axed because the Cold War was practically over by that point or was it because the project was going nowhere?
@RydarkVoyager
Ай бұрын
@@Fishster DEC 8800 VAXClusters
@RydarkVoyager
Ай бұрын
@@ryanlak1234 Actually it was a full telescope/focal plane simulator. Used to test the target tracking/discrimination/classification algorithms. 2 contractor teams, with $800 million+ each, competing to build the constellation. Bad test results for the flight hardware, and $$$.
@phill6859
Ай бұрын
C isn't incomprehensible.
@asogundaniel
Ай бұрын
This is the first time i am actually understanding the whole alameda, FTX and sam bank fried saga. To think i would finally understand by listening to an explanation about code😂😂😂... Thanks so much. This was a beautiful video...
@comatose3788
27 күн бұрын
The fact he himself couldn't code kind of blew my mind. The moment you said that I knew I was going to see the most pre-school approach to this.
@doobybrother21
Ай бұрын
He may be fried but I think it's pronounced freed.
@The1RandomFool
Ай бұрын
I pronounce it "fraud".
@Cau_No
Ай бұрын
By now it should be pronounced "fraud" …
@boomslangCA
Ай бұрын
Not to be pedantic but you are right given the Germanic origins however I have found that in North America the pronunciation is all over the place, even by people with the name so it's a crap shoot. Fried is probably just as valid as you say.
@doobybrother21
Ай бұрын
@@boomslangCA you have every right not to be pedantic but I think we should go by what the evil villain himself says :) It's Freed/Fryd in this case.
@NotJRB
Ай бұрын
I was just about to make that point.
@jieuryli
Ай бұрын
This is why you need to write your fraud code in x86 assembly.
@undeadpresident
Ай бұрын
I've heard the central banks still do it in Cobol
@abhishankpaul
Ай бұрын
Why not Brainfuck
@gmagholder1
Ай бұрын
Nah.. this is why correct naming of variables is a baaad thing ;) Clean Code => Jail-Time
@nielshenriksen1043
Ай бұрын
@@undeadpresident many banks is still using Cobol.... becuase it will be very expensive to rewrite it.
@SerbanSimbotelecan
Ай бұрын
Or a lot of bit xor and shifting ;)
@kmac499
Ай бұрын
Seriously Great explanation, and next week Crowdstrike...😂😂😂
@andrzej21111
Ай бұрын
Komentowanie i mówienie prawdy jest niezgodne z wytycznymi you tuba. Takich czasów dożyliśy że prawda jest zakazana.
@jbird4478
Ай бұрын
So wait... not only did they blatantly hardcode the fraud, but they hosted that code on Github?
@dr-rexmangrca113
Ай бұрын
Most sheepoeple do not read the in deep.. Most think code writer walk on water and are 100 percent honest 😂😂😂😅😅... Rofl I DO NOT TRUST CODE UNLESS I HAVE WRITTEN IT OR KNOW WHO DID 😅😅😅
@undeadpresident
Ай бұрын
The US financial system as a whole is just as dishonest and flagrant about it.
@dr-rexmangrca113
Ай бұрын
@@undeadpresident yep I looked way back last 350 years are major fraud
@b_dawg_17
Ай бұрын
Lmao, came here to say this! 😂
@b_dawg_17
Ай бұрын
@@undeadpresidentI'm not trying to be a troll here, I'm genuinely curious. Where can I learn more about this? I know the government has places to access public information online. Is there a particular piece of code, a document, or some indexed database where I can find some examples of what you're talking about?
@kurtarbuckle1730
Ай бұрын
That was a great job. I am an old retired lawyer and I could not have explained better
@ManuelBasiri
Ай бұрын
Can I correct you on one point. It's not that FTT is a made up token and has no real value. EVERY cryptocurrency is basically a made up string of text that has no actual value.
@boomergames8094
Ай бұрын
All squares are rectangles. The scope of this is only one rectangle. Both FTT and EVERY are made up are both true. But "EVERY" is out of scope.
@AB-nu5we
Ай бұрын
'If you want to commit fraud, don't use Python.' Assembly FTW!
@YouRich92
21 күн бұрын
I has seen assembly programs being really legible, by using sensible naming and using facilities from the macro assembler. Much more legible than some current day Javascript where everyone seems compeled to use lambda everywhere with no good reason.
@mc4ndr3
Ай бұрын
As a coder it's unnerving to see nested IF blocks instead of higher quality AND expressions. But low quality code is unfortunately par for the course at billion dollar companies.
@jfbeam
Ай бұрын
Write it quickly, not well. All too common.
@tindrums
Ай бұрын
Complex logical causes are difficult to debug. Nested Ifs are easier.
@spikeydood4241
Ай бұрын
Really great description and summary of what should have been a much more complex problem to solve, as you say obfuscation was not high on their agenda...almost unbelievable!
@theronwolf3296
Ай бұрын
Thanks for this overview, this was a train wreck. Perversely entertaining for me ( I recently retired from decades of database coding and administration) but not for the people who lost so much money. Fortunately the company I worked for (30 years) was very strict about legal issues, we had regular mandatory training sessions on law and ethics, and were encouraged to submit an anonymous tip if we felt something was wrong.
@Eyes0penNoFear
22 күн бұрын
Thank you for adding subtitles! KZitem's subtitles are just bad enough to cause confusion, so I have great respect for every content creator who takes the time to add them ❤
@alexeystolpovskiy7862
Ай бұрын
you are so awesome, Dee. Dunno, how exactly I found your channel, but the content and your narrative are really great.
@BritishBeachcomber
Ай бұрын
SBF was a pseudonym for Sandwich, bacon, fried.
@ChrisosIDK
Ай бұрын
Bahahhah sounds tasty
@k98killer
Ай бұрын
The story is a bit more complicated than described. The issue with FTT was not that FTX was "setting the price" -- the issue was that its trading volume was too low to trade the large quantity used as collateral for loans, and it certainly was not liquid enough to absorb the threatened selling pressure from Binance. The ultimate issue, however, was that Alameda effectively borrowed customer deposits from FTX, and the impairment in their FTT holdings meant that they could not pay them back. Btw, the "-Fried" in "Bankman-Fried" is pronounced like "freed". However, "Scam Bankster-Fraud" is a more appropriate name for him.
@neomarko1731
Ай бұрын
This happens when you are in charge of a lot of money, but are stoned out of your mind to even figure out what is going on.
@DanielSmith-lv5ed
Ай бұрын
How did someone that stoned pull off such manuevers? if he didnt spend a penny, what happened?
@parinose6163
3 күн бұрын
I now thoroughly understand this fraud, and I almost have a script for a movie. Thank you!
@berndeckenfels
Ай бұрын
It’s odd that Alameda was early in coins, had solvent investors and novel trading algorithms and also insider insights in trading volume and they still did not make enough money so they where 8 billions into made up investments? 😮
@dhruv1863
Ай бұрын
How was this not caught in code audit? I work in one of the biggest US banks and not kidding, our code is audited from external auditors like EY, PWC etc every 6 months. Infact they pick any random transaction out of billions, and ask us to track it in our code end to end and explain on call. Any abnormalities and company would be fined millions of dollars
@YouRich92
21 күн бұрын
No need to go to code auditing there. From the beginning it's wrong as the auditor Prager Metis was providing accounting services as well as being certifying auditor. Doesn't that reminds you of Enron ? The SEC is not to happy with it : www.sec.gov/newsroom/press-releases/2023-214 But yes, I have seen auditors requesting the details of all the transactions occuring over some days they choosed, closely watching for the operations and requesting all the details on what lead to some result. I remember a request to explain in every details from the source code how leasing interests got computed. And that was quite complex.
@davestorm6718
Ай бұрын
Wow! I didn't realize the extent of this went into code. This is crazy! I write code in C, C++, and C# (depending on the platform) and don't use interpreted languages mainly due to performance (Python, ECMA/JavaScript, VB Script, etc) issues. It's a lot easier to obfuscate as well (so if you're going to do criminal coding, use a compiled language - or if you like to torture devs, use assembly ;) )
@rb95051
Ай бұрын
Nice analysis. I swear at the beginning I heard you call SBF Sam Bankman-FRAUD….either a Freudian slip or me slow on catching up …..
@moses5555
19 күн бұрын
I heard it too.
@maburwanemokoena7117
26 күн бұрын
I remember Sam being interviewed about how he made his wealth he said that he realised that the price of Bitcoin in the USA and Japan were different and took advantage of it and he’s been doing it. In finance we call that an arbitrage opportunity and it doesn’t last even a minute, many times they don’t even exist. That’s when I suspected something was off but brushed it off.
@jarek0n077
Ай бұрын
Very intresting and good video. Some new information that I have not seen before. Nice job presenting
@LeeRoughead
Ай бұрын
Wow. Retired (50+) Ada/C++ software engineer (mostly GUI, some backend) worked in a defence industry. I remember seeing documentaries about this and the investigative journalists that uncovered it and though it was fascinating. So much for them saying they were just naïve!! But, 2 lines of code? A random number and a hard-coded value???? Now I think they and deliberately lied about everything. First time I've come across your channel. Will check out more of your posts :)
@richardgilmore5607
Ай бұрын
I am loving your reporting. I am a new subscriber. Keep up the good work.
@rebeccachoice
Ай бұрын
You don't fraud someone, you defraud them. You don't fault someone, you default them. You don't correct someone, you troll them.
@kebman
14 күн бұрын
This is _exactly_ the same thing that happened to the first bank that printed paper money in Europe. The owner allowed the bank to print more paper notes than there were actual gold in the bank. The king of Sweden put the guy in prison for that in the 1600's.
@isaac80745
Ай бұрын
I never seen this breakdown on the documentary series. lol great breakdown
@One.manuel
Ай бұрын
The truth is that if any bank in the world would need to actually give that porcentage of money back to owners, they would all go bankrupt. At the end of the day the problem is how much money these instituions are ok to use related to money under management. Is just that.
@Stisse12
Ай бұрын
This is so crazy! Does not companies in US have controls done from outside, in Europe we have leagal reviews by external booking firms that go through the books and accounts! ??? How can this happen, like a bunch of guys playing a game.
@jirehla-ab1671
Ай бұрын
This is what crypto financial institutions needs to catch up
@boomergames8094
Ай бұрын
Its defi, its crypto. Isn't the point of crypto and defi to not have external accounting?
@clray123
Ай бұрын
lol these guys think they are reinventing finance, in reality they are just reinventing financial frauds that actual finance organizations learned to guard against... also this is exactly why "regulation" of financial instutitions (or really any accounting standards) exist to begin with and why you don't hire 17 years olds to work on business-critical enterprise applications.
@billyhill6506
Ай бұрын
This reminded me of a report I was asked to create from one of our production systems. The report was simple, it counted new, open, and closed cases for the year. The numbers I was getting from the database base never matched what I was told they should be. We had a meeting to understand the process they used and found they were multiplying the same numbers I got from the database with a base-rectum number in order to make the numbers what they wanted them to show.
@dunmatta2670
Ай бұрын
Jeez what a mess. Thanks for this breakdown. Always fascinated how the backend was handled
@michaelmcnally1242
Ай бұрын
I think pronounces it "Freed" but he certainly is fried now, so please carry on
@md2perpe
Ай бұрын
But it should be "Sam Bankman-Fraud".
@CookyMonzta
Ай бұрын
@@md2perpeI think I saw that on the Web somewhere when he got busted.
@LokeKS
Ай бұрын
now fried as in fries
@Rightin02
Ай бұрын
Thank you for this! I love to see code analysis details that are otherwise not covered in the typical media.
@matteframe
28 күн бұрын
so the lesson is, if you're going to commit fraud, definitely don't put it right in the code! Create a placeholder variable that some low level employee manually updates, and say it comes from some kind of 'external business process' or 'business review' that can't be followed after the fact.
@fraz_the_mediocre
Ай бұрын
Nice. Loving your channel. You're a great researcher and presenter.
@Watching58
Ай бұрын
Great work. So complex. The intersection of law, coding and finance.
@CyperN077
Ай бұрын
That's a huge problem with code in general, IMO there should always be an independent body auditing the source code.
@gordonshamwey3442
Ай бұрын
This would imply that there is some sort of regulations, which have rules how to work. But the customers of crypto especially do not want regulations. Also who will pay this body? This must be done for every commit, if not you permit code for audit without fraud and have code with fraud in production.
@wisenber
Ай бұрын
@@gordonshamwey3442 "But the customers of crypto are especially do not want regulations." Crypto itself is subject to public domain auditing including the code and the transactions. Crypto exchanges are another matter.
@CyperN077
Ай бұрын
@@gordonshamwey3442In my view, an.acute understanding of the programming language and its inherent objectives dictate the framework within which the rules are set. Ethically aligned hacker groups, specify white or grey hats, might participate in incentivized competitions aimed at identifying potential vulnerabilities.
@CyperN077
Ай бұрын
@@gordonshamwey3442 IMO the understanding of both the programming language and its intended purpose dictate the rules. The client could put up a bounty for white and grey hat hackers to flush out any potential vulnerabilities. Gotta spend money to make money...
@yewhanlim8916
Ай бұрын
Whoever pays the independent body gets a glowing audit. For your information, companies pay their finance auditors.
@cabanelas
Ай бұрын
Great work, thanks, I am a BE developer, and have to deny coding some shady stuff, Uncle Bob is right, we have to have serious ethics in our business!
@wonkim7921
Ай бұрын
Entertaining video! For the fake insurance USD generation: I wonder what f2d() did? If my understanding is correct, normal distribution with mean=7500 and std=3000 has a slight chance of returning a negative number. I hope f2d() covered for this case. I mean even if you write code for fraud, it should be correct. 😂
@kebman
14 күн бұрын
No, price was higher in South Korea. Which was a difficult market to get into, due to laws governing who could transact money in and out of the country.
@peterrasmussen2793
Ай бұрын
❤ love this, I’m immediately renaming all the fraud_ prefixed variables as i write!
@jn674
Ай бұрын
Thanks for the great video. The well documented variable names made the prosecution's job a walk-in-the-park.
@christianhorn1999
29 күн бұрын
oh no, a product that could be devided indefinitely and sold over and over again without being consumed until you found the last one that is willing to pay you for doing nothing so you can buy an SUV is prone to fraud...
@elkanaajowi9093
Ай бұрын
Now I must reconsider the naming conventions for all things: tables, columns, variables, classes, and even functions. This is an eye-opener for all of us coders (in the spirit of Destro's quote in the G.I. Joe: The Rise of Cobra 2009).
@nicolasrenard2551
Ай бұрын
A channel of public interest. Thank you for your work!
@neilstephenson8755
Ай бұрын
Stellar effort and excellent presentation!
@utkua
Ай бұрын
It is amusing that things that are business as usual in banking are deemed fraudulent in other contexts.
@AnIdiotAboard_
Ай бұрын
Dont use python, its really easy to read. With the greatest of respect, all code is easy to read, when you understand assembly.
@stephendavis4241
Ай бұрын
Even Assembly is easy to read for those of us who know.
@SianaGearz
Ай бұрын
If it's written to be read, it can be easily read, but most assembly one reads today is either disassembled, meaning it has lost semantics that was in the memory location names and jump target names, comments on registers etc, a lot of naming is lost. Or it's a dense bundle of SIMD instructions that was written to accelerate something, that even the author barely understood the moment they wrote it but it worked so there it stays.
@AnIdiotAboard_
Ай бұрын
@@SianaGearz Code is written to be executed and SIMD in assembly is childs play to work out along with the rest of it, when you have the assembly the function (for example) names are not relevant, if you know what the codes doing the rest is easy :)
@utboos
Ай бұрын
It’s not about what you name the variable- it’s how they ‘know’ to fleece their customer - say anything and deny it all. Oversite is the only way to help prevent that kind of fraud. The same problems exist in health care billing and insurance fraud - the code reflects the attitude of those running the ‘game’
@moistointment
Ай бұрын
Very well researched - will be checking out the rest of your channel
@clarkvaughan
Ай бұрын
16:54 I like the 'ignore collateral' command. I wish my bank used that. 😮😮😮😮
@PanduPoluan
28 күн бұрын
16:57 "If you're committing fraud, don't use Python" The corollary: "If I'm using Python, it will be easier to convince people I'm not committing fraud."
@dominicbout
Ай бұрын
17:06 Laughed out loud at that one
@reinvantveer5874
Ай бұрын
Great story, well explained. Appreciate your sacrifice to go through court case documents 😂 and you came up with a couple of gems. Highly entertaining although I share your sympathy for those leaving this scam with losses 😢.
@reinvantveer5874
Ай бұрын
Side note I do wonder what their unit tests for the non-existent reserves look like. Something like just def test_fake_reserves(): assert reserves == 5_250_000 ??? 😂
@macforme
19 күн бұрын
Fabulous explanation .... I now know what not to do and I am on it! Don''t use Python... don't label your crimes.🤣 Glad you noted in the Show More notes that Fried in this case is not pronounced "Fryed"... I'll add here that is is pronounced Freed. But he really fried himself and the customers. Many of the employees were in on it... SBF had a property in the Bahamas that was called a "crypto frat house" by the press.
@GregRutkowski
Ай бұрын
Great investigative reporting!
@MrDejvidkit
Ай бұрын
Ow man, I used to write code like this... accessing the global state in if branches is asking for troubles.
@Cau_No
Ай бұрын
So is using magic numbers - but using FAKE_FTT_VALUE = 5250000 would have been a little too obvious?
@stanpak007
Ай бұрын
Thank you for interesting exposition of this fraud in code. Oh, and please do not suggest other future scammers to use code obfuscators. It would make any further similar videos much harder to make. :-)
@MrEric377
Ай бұрын
So...me being naive, what if a group of people created another crypto trading platform and they were transparent and didn't become greedy? Is there a need for this? Is crypto still a viable thing? Actually if the code from FTX is "available" all you would need to do is take out the whole negative column and make sure no one can trade past below 1% of the total account or 0. I wish I was a coder. 😞 I would put this code on the cloud and just change all the logos and themes to make a fresh look. Anyway, great video and thanks for explaining.
@fay7253
Ай бұрын
Sam Bankman-Fried: ❌ Sam Bankman-Fraud: ✅
@MarineBoy42
Ай бұрын
I read different reports about the Wang/Singh role in the robbery. It seems Gary Wang aided Nishad Singh, but that it was Nishad Singh who drilled the safe and blew the lock.
@toddbowers5673
28 күн бұрын
I’m sure some people walked away unnoticed with hundreds of millions of dollars.
@DanielSmith-lv5ed
Ай бұрын
They did research on multi-gov twarting people and what they found was that if they constantly obstructed ones life that theyd get even more ferocious and finally find a way. Its generally what happens when a person is trying to simply survive. They dont consider that though
@manicdee983
Ай бұрын
On the one hand, a good analyst will be able to tell how a company is structured by how their processes are embodied in code. For example you can look at what business functions are split between different code bases: one part of the business requests a firewall be set up, a different part of the company actually implements that firewall, then there's no obvious place where the new firewall rules are tested because the company doesn't *do* testing. On the other hand, intentionally writing obfuscated code is just another way of saying that you're doing something really shade. On the gripping hand it's crypto, the entire market is a scam based on getting some newbie to buy your imaginary money before the market collapses.
@kag46
28 күн бұрын
17:33 I’m also wondering what happens on the backend. Is there some 🇷🇺 ship on the shelf?
@abdulmohsenalkhamees4536
23 күн бұрын
Very niche take on FTX, great work.
@st3ddyman
Ай бұрын
That is an excellent description of what FTT did. You have a new sub
@74Gee
Ай бұрын
Bankman-fried is pronounced "free'd" Made me chuckle though - love your content.
@pretentioussystem
Ай бұрын
+1
@NotJRB
Ай бұрын
How anyone could invest in any cryptocurrency without it ever being independently audited is beyond me. I have to wonder how many are audited. Fools gold.
@BlessingMbalaka
Ай бұрын
Hey Dee, this was a great insightful video, I do wonder if the priviledges attained to allow unlimited funds (allow negative flag) would be similar to the modern day banking practices
@TomasMisura
Ай бұрын
what kind of incompetent traders they had to be when even with 8 billion dollars limit they were not capable to make profit of any kind? if you open let's say 1 million $ position with 50x leverage, you have to be in huge profit in matter of few seconds or minutes just following current trend!
@wzpu3283
16 күн бұрын
Ask the Democrats that they donated to
@trumpeterjones6638
Ай бұрын
Great to see ... i always wondered the same with the back end for Madoff's ponzi scheme. prob less complex but still needing code😊
@mthulisisibanda4780
Ай бұрын
Officially my #1 coding channel 😁🔥
@rickmyers7627
Ай бұрын
Fantastic presentation... I am glad I found this channel.
@liviere1
Ай бұрын
Amazing content!!! learning a lot!!!! thank you so much!
@StarnikBayley
Ай бұрын
these tech scammers have degraded the whole domain of software engineering.. the strength of software engineers was we believed in values. values are glorified and looked upto in our domain. now because of scams like this, we are the first to be laid off..
@user-us6pj2jw1h
29 күн бұрын
I can’t stop smiling when she says “Fried”. Name fits him now
@mostlyindica
24 күн бұрын
Greedy people are easily relieved of their money, nothing is going to change.
@samsmusichub
13 күн бұрын
Ok so why is it okay for the government to spend money it doesn't have then inflate the money supply to push the negative consequences to the people?
@jfbeam
Ай бұрын
The "allow negative" ability is not unknown in the world of banking / finance. My business banking accounts can go negative. It's a bit of fuzzy-logic to allow checks to clear before deposits post. There are, of course, limits to how far negative one can go, how many times, and how long it can stay negative. Our accounts have closed the day negative a few times over the years, because deposits didn't post until the next day. (and once because a check bounced.)
@ray_donovan_v4
Ай бұрын
"Fried", pronounced "freed". But could be pronounced "fraud" 😂 Thanks for the video/info 🙏✌️
@user-wq3jr9hn4m
Ай бұрын
I'm detecting a lego addiction?...... :)
@izayus11
Ай бұрын
This is what bothers me the most. They are still saying how this bunch were geniuses, when in reality their schemes were so simple.
@clray123
Ай бұрын
I think the fraud already starts with a single guy being able to make changes of this sort to business-critical, financial code without it going through extensive testing and getting signed off by a second person before hitting production. I bet their only requirements tracking was "maed teh code trade moar efficient" Git comment in the commit history. Even without fraud, this whole "exchange" could have collapsed because of a typo.
@macjonte
Ай бұрын
How is this different from any normal bank? They also lend their customers money to their other customers..
@kevincozens6837
Ай бұрын
Side note: I like the models of the Titanic, Concorde, and Saturn V visible in the background.
@cerealport2726
Ай бұрын
Thanks very much, your videos are always very informative!
@flomoloko360
Ай бұрын
His last name sounds better pronounced "fried" like fried chicken, instead of "fried" like freebird, cause he sure isn't free anymore haha.
@user-hc6uo5fp8n
Ай бұрын
Thank you for a brilliant explanation keep up the good work.
@hmurdock
Ай бұрын
And here I am busting my balls to get the company's react-native app updated and running and people making junior high level code making Billions...
@stewarth99
Ай бұрын
Thank you, I think, the mist is clearing. Like a crystal ball.
@Tome4kkkk
Ай бұрын
So basically an American Boguslaw Bagsik (Art-B, Poland) :D
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