The Heartland Tri-State Bank in Elkhart, Kansas, failed in July 2023 after its CEO, Shan Hanes, allegedly wired $12 million to cryptocurrency scammers. The bank was seized by regulators and its deposits and assets were assumed by another bank. This is the fourth and smallest bank failure to date in 2023. The Bloomberg Businessweek report, which is based on interviews with three anonymous sources, alleges that Hanes was contacted by a group of scammers who claimed to be able to generate high returns on cryptocurrency investments. Hanes was reportedly persuaded to invest $12 million of the bank's money, which was then wired to the scammers.
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USDT
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BCH
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$0.999741
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