> How can this happen to a modern fintech…?

It’s a modern fintech that’s most likely to be vulnerable. Banks tend to have a long history (either themselves or with the infrastructure they buy) of security, from physical to electronic. It’s what makes them often so clunky…there’s little incentive to streamline too much, and their insurance providers are reluctant to insure anything excitingly new.

Hell, banking is so conservative that their language is frozen in 14th century Italian from when banks were personally owned by rich families: the words “debit” (“give”) and “credit” (“take”) are from the bank owner’s perspective, not the customers’. But you tend not to see the kinds of breaches you see in modern fintech.

But, you know, move fast and break things, right?