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What's xRapid/Ripple "failsafe" mechanism in case of malicious intent (phising/hacking)?

What's xRapid/Ripple "failsafe" mechanism in case of malicious intent (phising/hacking)?

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Hello everybody,

First of all please excuse me if i say something which is not correct during what i want to ask. The point is to try to understand.

Ok so i know that in the current SWIFT system because of how the system works(being slower and all) it is possible to "freeze", "cancel" or even "reverse" certain money transactions when there is a complaint or there is suspicion of malicious activity. And here i will give the example of this video:

The $1,000,000,000 North Korean Bank Heist

Could someone explain to me how the situation would have looked if instead of SWIFT, xRapid was in use in this case? Would the hackers be able to walk away with all the money since the transfers are "instant"?

Also in the current banking system i know that you can reverse certain transactions in case there is a problem (malicious intent, the other party not delivering the goods, etc.). What's ripple approach to this?

Thanks for the answers and again, this is for me very unclear so i might have gotten some "facts" wrong or misunderstood.

submitted by /u/Mirutzo
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