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CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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I always preach, mistakes in crypto can be deadly.
And it is not just the common joe who needs to be ultra-cautious.
Apparently, even the biggest players in the industry still makes monumental blunders.
How about a $10.5M typo?
Last year, Crypto.com wanted to refund a customer $100 but mistakenly sent $10.5M instead.
“Instead of Crypto.com entering “100” into the payment field, an account number was put in. So rather than getting $100, the woman received $10,474,143.”
Get it?
An account number, literally 8 digits long instead of 100 bucks!
“Crypto.com naturally pursued the user to recover the money, informing the court that the blunder happened because an account number was entered in the payment field — in other words, a classic case of PEBKAC (problem exists between keyboard and chair).”
Despite all the safeguards and technology, nothing can escape human errors.
Seems like the employee who keyed in wrongly had a really bad day.
Even better, the customer went ahead to buy a $1.35M luxury mansion and gave some to her family too.
I mean, it was free money and it did appear in her account!
Sounds legit?
Not quite.
Apparently, it is illegal in most countries to keep money that isn’t yours, even if you have no idea where or how it arrived in your account or possession.
So Crypto.com has sued the customer and the court has ruled in their favor.
She will be expected to sell the house, recover the money given away and give all of it back to Crypto.com.
Question is, what happens when she does all of that and is still short?
Painful circumstances indeed.
Lucky for Crypto.com, this was done via bank transfer and still enforced by the laws.
If it was a crypto transaction, which are immutable and irreversible by nature, things might have been really different.
Best part is that it took Crypto.com 7 months to discover the error.
Oh the drama it must have stirred up within the company must have been epic.
Oh and one more thing.
I would like to point out that Crypto.com is literally one of the smartest hack in business ever.
The fact that they named the company a literal .com makes it stands out in everything.
It automatically converts into a url link that is clickable across all social media platforms and copy, making it an ultimate funnel for new leads.
Its a supreme business hack that takes a lot of balls, because it does make the brand sound silly at first glance and very layman.
I guess it works fine, because they have millions of customers and billions in revenue.
Something so simple yet proven to be so effective.
-
Would you give back $10.5M that didn’t belong to you?
-
#startups #business #startupx #growth #success #socialmedia #strategy #crypto.com #crypto #austrialia #hacks #humanerror #mistakes #laws #cryptocurrency #eth #btc
I always preach, mistakes in crypto can be deadly.
And it is not just the common joe who needs to be ultra-cautious.
Apparently, even the biggest players in the industry still makes monumental blunders.
How about a $10.5M typo?
Last year, Crypto.com wanted to refund a customer $100 but mistakenly sent $10.5M instead.
“Instead of Crypto.com entering “100” into the payment field, an account number was put in. So rather than getting $100, the woman received $10,474,143.”
Get it?
An account number, literally 8 digits long instead of 100 bucks!
“Crypto.com naturally pursued the user to recover the money, informing the court that the blunder happened because an account number was entered in the payment field — in other words, a classic case of PEBKAC (problem exists between keyboard and chair).”
Despite all the safeguards and technology, nothing can escape human errors.
Seems like the employee who keyed in wrongly had a really bad day.
Even better, the customer went ahead to buy a $1.35M luxury mansion and gave some to her family too.
I mean, it was free money and it did appear in her account!
Sounds legit?
Not quite.
Apparently, it is illegal in most countries to keep money that isn’t yours, even if you have no idea where or how it arrived in your account or possession.
So Crypto.com has sued the customer and the court has ruled in their favor.
She will be expected to sell the house, recover the money given away and give all of it back to Crypto.com.
Question is, what happens when she does all of that and is still short?
Painful circumstances indeed.
Lucky for Crypto.com, this was done via bank transfer and still enforced by the laws.
If it was a crypto transaction, which are immutable and irreversible by nature, things might have been really different.
Best part is that it took Crypto.com 7 months to discover the error.
Oh the drama it must have stirred up within the company must have been epic.
Oh and one more thing.
I would like to point out that Crypto.com is literally one of the smartest hack in business ever.
The fact that they named the company a literal .com makes it stands out in everything.
It automatically converts into a url link that is clickable across all social media platforms and copy, making it an ultimate funnel for new leads.
Its a supreme business hack that takes a lot of balls, because it does make the brand sound silly at first glance and very layman.
I guess it works fine, because they have millions of customers and billions in revenue.
Something so simple yet proven to be so effective.
-
Would you give back $10.5M that didn’t belong to you?
-
#startups #business #startupx #growth #success #socialmedia #strategy #crypto.com #crypto #austrialia #hacks #humanerror #mistakes #laws #cryptocurrency #eth #btc
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