this post was submitted on 12 Oct 2023
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I’m not surprised at how bad they are at it. These are highly educated rich people who think they’re smarter than they are. They probably think of crime as how stupid people without ethics get money. And so they cannonballed into white collar crime they believe that things like intelligence are just scalar values that they have a lot of. They aren’t going to think of all the little tricks you learn on small scale stuff.
Also a lot of their crimes are just reenactments of why finance laws exist but with crypto. Because they think it’s special since they got rich doing arbitrage but with crypto and they think they’re special visionaries. They’re pure ego, and often were rewarded for it.