New record?

Social media and blockchain and DeFi and NFT and DAO enable super-fast and super-efficient swindles. I wonder if this one sets a new record for Greater Fools Per Second. (GF/s, or GFs-1 in proper metric format.)

An NFT exchange called SudoRare set up its website, grabbed $820k in real money from Greater Fools, and then shut down and absconded in just six hours.

Plain old physical robbers rarely get more than a few hundred from a cash register or purse or wallet. A lo-tech thief would have to hit a thousand stores in six hours to match this record, which is physically impossible. The cops would catch him after the first few hits.

Maybe a better comparison would be Big Heists as seen on TV or movies. Plan for a year, do intensive research on the target, bribe security guards and alarm companies to look the other way, drill through the wall to reach the vault, drill the richest boxes in the vault, remove and cash out the loot through a pre-cleared and pre-bribed path of fences and money launderers. Such heists happen once per decade in real life, and always fail.

This virtual heist certainly required a bit of planning and research on the target. The name SuDoRare implies that Zhu Su, Do Kwon, and Rare Monkeys are involved. Glamorous names among the Greater Fools crowd.  There’s also a neat Sucker Filter.  If you are a Greatest Fool you won’t notice that SuDo is pronounced Pseudo.  But the execution is essentially costless. No bribes, no wire-cutters or drills or nitro, no escape path, no laundering.

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