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Credit card thieves are using mobile games to launder money

According to a cybersecurity firm in Germany, 20,000 stolen credit cards were recently used while carrying out the cyber crime

Santanu Basu @shaanthegame 24 July 2018, 5:00 PM
A still from Supercell's Clash of Clans

A still from Supercell's Clash of Clans Image: Supercell

Credit card thieves have reportedly found a new way to launder money using mobile games such as Clash of Clans, Marvel Contest of Champions and Clash Royale. In these games, players purchase in-game currency (gold or gems) to get several strategic advantages. But such form of "plastic money" has proved to be an easy way out to launder thousands of dollars from one destination to another.

According to a report by Kromtech – a cybersecurity firm in Germany – over 20,000 stolen credit cards were recently used to purchase in-game currency, which was converted into hard cash by cyber criminals with the help of dubious, third-party marketplaces.

All of it was done without leaving a trace.

This is apparently happening due to the automatic creation of accounts on a large scale.

According to a blog post by Kromtech, "E-mail accounts are also very easy to create with a few providers requiring little in the way of verification. Combined, the carders were able to automate the account creation process, as you’ll see, allowing them to create accounts on a large scale. The tool we found and its users currently work with countries such as Saudi Arabia, India, Indonesia, and Kuwait. The large-scale abuse of the creation and verification process of Apple ID is possible because the group uses jailbroken iPhones to distribute the load, along with generated and stolen data. Game makers could do a better job of policing their policies along with tracking and pursuing abusers."

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