2025-12-26 22:23:10

California's latest audit reveals a troubling picture: state funds have hemorrhaged as much as $76.5 billion to fraud over time. That's not just a number—it's a wake-up call about systemic vulnerabilities in financial oversight. When even government treasuries can leak this much, it raises questions about security layers and accountability across all systems. A reminder why decentralized verification and transparent tracking matter in today's world.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
8
Repost
Share

Comment

0/400

BearHugger

· 12h ago

ngl 76.5B this number makes my scalp tingle... The government treasury can be exploited so ruthlessly, what sense of security is there to talk about? I can only say that blockchain is really not just talk.

View OriginalReply0

Blockblind

· 12-26 22:53

76.5b? Oh my, now that's what I call a real rug pull, only the main character is the government haha

View OriginalReply0

GasWaster

· 12-26 22:51

76.5B directly evaporated, traditional financial systems are so leaky that they still have the nerve to say our crypto is unsafe... LOL

View OriginalReply0

staking_gramps

· 12-26 22:51

ngl 76.5B is really outrageous... The government can't even protect the wallets, and they still have the nerve to say our coins are unsafe? LOL

View OriginalReply0

MoonMathMagic

· 12-26 22:49

NGL, a $765 billion bug... this is the biggest rug pull. Centralized institutions say we trust transparency, haha.

View OriginalReply0

TeaTimeTrader

· 12-26 22:48

76.5B gone? The fate of centralized systems, brother... That's why we need transparent on-chain accounting.

View OriginalReply0

AllInAlice

· 12-26 22:48

ngl 76.5b is gone just like that... Traditional finance is like this; the greater the centralized power, the bigger the vulnerabilities. This is the real reason why we need Web3.

View OriginalReply0

BridgeNomad

· 12-26 22:40

$76.5B in leaks? nah that's basically what happens when you trust centralized gatekeepers lol. seen this movie before—different year, same counter-party risk disaster. this is exactly why we need transparent on-chain settlement, no more black box treasury vaults holding everything hostage

Reply0