Unless their money currency is in north Korean won, for the most part yes. Most banks are multinational and those aren’t are regulated government banks. Unless he hacked entirely third world and even the low income people in the third world sketchy banks. The money is safe.
Unless it was a silicon valley type bank, then in that case boo hoo the victims
I mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
Theft against banks.
According to the Wikipedia he withdrew money from private individuals’ credit cards.
That’s the bank’s money.
Ever heard of protections for citizens. That money is back in all those affected accounts as it legally is required to be
Are they the same in every country?
Unless their money currency is in north Korean won, for the most part yes. Most banks are multinational and those aren’t are regulated government banks. Unless he hacked entirely third world and even the low income people in the third world sketchy banks. The money is safe.
Unless it was a silicon valley type bank, then in that case boo hoo the victims
Banks usually hold other people’s money.
Banks are insured, along with all accounts under $250k. I don’t know about you, but I’ve never had to worry about going over the FDIC limit.
I mean, I’m not taking sides or anything but isn’t the FDIC a government agency and any insurance money used to cover thefts ultimately come from taxpayers?
No, because the US federal government has monetary sovereignty using a Fiat currency, meaning the US can pay for it without extracting it from taxes.