2026-01-11 01:20:54

Let's talk about what's happening in New York's Medicaid system. Over $1.2 billion—gone. Vanished through fraud and scams. That's not a typo, not a rounding error. One point two BILLION.

Here's what gets me: this isn't some freak accident. It's not an isolated incident either. When a public system hemorrhages that much money to fraud, you're looking at systemic failure. Broken oversight. Negligent controls. The warning signs were probably everywhere, ignored until the damage was impossible to hide.

Investigations and full audits? Absolutely. But this should spark a bigger conversation. How many other systems are bleeding money like this? How many vulnerabilities exist in centralized public infrastructure? Maybe this is exactly why decentralized, transparent mechanisms matter more than ever.

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CryingOldWallet

· 14h ago

1.2 billion dollars just gone like that? Centralized systems are completely rotten, and that's why we need blockchain. --- Another big mess of centralization, regulatory agencies just sitting around doing nothing? --- Honestly, how many times does this have to happen before people wake up... --- Decentralization isn't a panacea, but at least it can improve transparency, right? --- 12 billion, an astronomical figure... isn't that enough to trigger a revolution? --- The fundamental flaws of centralized infrastructure are fully exposed. How many similar pitfalls are still hidden? --- Every time, it's an investigation after the fact. What about early warning mechanisms? --- Ironically, while we're talking about blockchain transparency, traditional systems are still bleeding.

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CafeMinor

· 01-11 01:48

1.2 billion just gone? That's what you call a real "address error," more outrageous than losing coins in my wallet. --- The vulnerability of centralized systems is so big, no wonder Web3 needs a revolution. Basically, it's a trust crisis. --- Every time I see this kind of news, I think, what are those auditors doing? --- Regulatory failure—that's enough. The rest is just nonsense. --- Decentralization isn't a silver bullet, but at least the ledger is clear; no one can deny it. --- One point two billion... How long do I have to mine to understand this number? --- It's so ironic. Traditional finance criticizes our crypto space for lacking regulation, but they lose money even faster themselves. --- If this continues, the money might have already been cleaned and moved onto some chain. --- Systemic failure is just a nice way of saying, in reality, it's a group of people covering for each other.

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DegenMcsleepless

· 01-11 01:48

1.2 billion just gone? Centralized systems are completely broken, it's really time to change the approach. --- Once again, regulation is sleeping... Traditional finance is completely bankrupt. --- This is why we need on-chain transparency, an immutable ledger that can't be tampered with. --- What does this incident in New York tell us? Centralized systems are black holes; once the money goes in, it's gone. --- Wow, 1.2 billion, how many people must have been derelict to cover it up for so long... --- They still want to manage our pensions, hilarious. First, get the healthcare system in order. --- It's always discovered after the fact. Why not make everything transparent from the source? --- Decentralization isn't a silver bullet, but it's definitely better than this. At least with on-chain data, no one can secretly alter the records. --- Still relying on traditional audits? We should have switched everything to smart contracts long ago, brother. --- This is the biggest rug pull, more outrageous than those shitcoin scams.

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CryptoNomics

· 01-11 01:45

ngl, $1.2B vanishing through fraud in a centralized system... the correlation matrix here is *chef's kiss* — regulatory capture meets institutional opacity. this is literally textbook rent-seeking behavior. and people still wonder why on-chain transparency matters lol

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ConfusedWhale

· 01-11 01:44

1.2 billion just gone like that? How bad must this system be, with no regulation at all? Honestly, centralized systems are always drained, we should think about another way. This kind of thing happens in every country, it's just that no one dares to expose it.

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SchroedingerAirdrop

· 01-11 01:43

1.2 billion USD is gone just like that, the old centralized trick. --- Where are the regulatory authorities? How did no one notice such a huge gap? --- Really need to see how many systems are bleeding secretly. It's terrifying. --- That's why on-chain transparency is necessary. We can no longer trust these black boxes. --- Brother, 1.2 billion. This number has shattered my three views. --- What are you talking about audits? We should have eliminated this rotten centralized system long ago. --- Manual audits are unreliable. On-chain data is the only way out. --- How come those regulatory officials can't see this? I don't understand. --- This is called systemic corruption, just the tip of the iceberg. --- Web3 has been playing like this for a long time—decentralized and transparent.

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MercilessHalal

· 01-11 01:38

Whoa, 1.2 billion just disappeared like that? Centralized systems are completely broken, and this is why we need blockchain. --- This is the real systemic problem, not an isolated case. No one knows how much money disappears in the shadows. --- My God, are regulatory authorities sleeping? They can't even plug such a big hole. --- Another perfect example illustrating the importance of decentralization, nothing more to say. --- Imagine if we used on-chain auditing, try to see if you can steal like this? Impossible. --- 1.2 billion, brother, enough for us to build several Web3 projects. --- That's why I don't trust any centralized infrastructure; transparent ledgers are the way to go. --- New York? It's the same everywhere, traditional finance is just a black hole. --- They found out, and then what? Still continue to be rotten, anyway no one is responsible. --- Transparency is too expensive for them; black box operations save money.

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Let's talk about what's happening in New York's Medicaid system. Over $1.2 billion—gone. Vanished through fraud and scams. That's not a typo, not a rounding error. One point two BILLION.

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Let's talk about what's happening in New York's Medicaid system. Over $1.2 billion—gone. Vanished through fraud and scams. That's not a typo, not a rounding error. One point two BILLION.

Trending Topics

GateProofOfReservesReport

MyFavouriteChineseMemecoin

GateFun马勒戈币Surges1251.09%

SOLPriceAnalysis

GateSquareCreatorNewYearIncentives

Hot Gate Fun

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Pin

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Share your first post on and split $10,000 in New Year rewards.
Post with #My2026FirstPost to share your New Year wish
2026U Position Voucher, Gate New Year boxes, F1 Red Bull merch await you!
Ends on Jan 15, 2026, 16:00 UTC
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