Suppose that one or more high-level officers at a stock brokerage, or other retail financial institution, decide to embezzle most of the assets held there.
The embezzlers liquidate the assets into cash, then exchange that for various cryptocurrencies. My impression is that some cryptocurrencies are truly untraceable and anonymous.
They might leave the country beforehand, and do this remotely. If not, they would transfer the money and then immediately fly to a place where they know it's feasible to disappear.
Presumably the embezzlers would have set up new identities beforehand.
There would be little or no assets left to recover in the subsequent bankruptcy of that financial institution.
Is this a plausible risk?