Definition of cryptocurrency
A method of defrauding money from people who mistakenly believe they understand both finance and technology
Cryptocurrency exchange Eterbase last week admitted hackers broke into its computers and made off with other people's coins, said to be worth $5.4m. The plug was pulled on the digital dosh exchange as a result, though it may return at some point: it claims to have enough capital to surmount the cyber-heist. Investigations by …
I'm unclear about how taxation deals with theft. If a company makes a million quid and then subsequently has it stolen, is the company still liable for the tax due on that million or is it a deductible cost?
It would be an ideal means of avoiding taxes, while also avoiding a large bill from tax consultants
Re Eterbase, it wasn't their "money". insofar as it was money at all (which is questionable) it belonged to their clients, so (depending on local legislation) the loss may only indirectly be theirs.
Re Eterbase, Palo Alto and Zoom, one day maybe someone will make sufficient effort to write robust software for mission critical applications.