Or just clickbait?

“Half of the pandemic’s unemployment money may have been stolen.” That is the title of this recent report by Felix Salmon for Axios, but the only evidence in support of this increduble claim is a statement by Blake Hall, the CEO of ID.me, who says that “America has lost more than $400 billion to fraudulent claims” and that “as much as 50% of all unemployment monies might have been stolen.” I would not be surprised if unemployment fraud were rampant, but this is pretty weak evidence.