While DeFi might hold a lot of promise for proponents of cryptocurrency and whatever Web 3.0 becomes, these large-scale losses show that the platforms and apps feature several serious, exploitable fraud risks.
Similar to the overconfidence bias, illusory superiority is described as when you overestimate your own abilities when compared to others. Confidence is an important trait for fraud examiners, but too much of it can lead to mistakes in investigations — and illusory superiority can contribute to overconfidence in imperceptible ways.
Corporate leaders are faced with a moral dilemma, weighing the financial interests of their stakeholders against the public interest in unifying against the violent invasion of a sovereign nation. Further complicating the situation, some corporate leaders must also determine whether to cut ties with their own employees based in Russia — employees with families to feed and support.
On July 15, a South Korean treasure hunting company called the Shinil Group claimed it found the wreck of a Russian warship, the Dmitrii Donskoi. The ship sank east of the Korean Peninsula more than 100 years prior during a 1905 battle with the Japanese while carrying a cargo of 200 tons of gold bullion, according to Shinil’s claim.