As a crypto analyst with years in the trenches, I’ve seen too many 'pig butchering' scams exploit weak banking oversight. This case—where Michael Zidell lost $20M to a fake NFT scheme through Citigroup—exposes a dangerous gap in anti-money laundering (AML) enforcement. The bank ignored red flags on 43 transfers, including suspicious large round sums. It’s not just about fraud; it’s about systemic failure. Let’s dig into how this could’ve been prevented—and why DeFi might be safer than we think.