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> According to one indictment, European credit card numbers sold for as much as $50, while US ones fetched about $10. This is truly dumbfounding to me. They ha
by dclowd9901 13y ago
> According to one indictment, European credit card numbers sold for as much as $50, while US ones fetched about $10.
This is truly dumbfounding to me. They had normalized, searchable access to millions of credit cards. They presumably had systematic ways of siphoning off money on high balance cards in a way that no one would've ever noticed. And yet, their grand scheme was to hock the numbers piecemeal for 50 a pop?
How are such smart people so bad at business.
- driverdan 13y agoThey had millions of credit cards. It's far easier and safer to sell the cards than try to come up with a scheme that will make an equivalent amount of money using them. Plus with that many they had far more than they could ever use. That's like saying anyone who runs a SaaS that helps other businesses make money for $50/m is bad at business.
- ErikHuisman 13y agoBecause low risk, little effort, high volume. Easy (if you're smart).
- mathattack 13y agoIf they used them all at once to make purchases, it would have triggered fraud protection software. If they were distributed, less likely to be caught.
- shitlord 13y agoIt's easy to farm credit cards and accounts once you have your infrastructure in place, but it's not so easy to actually profit from them. It's time-consuming and a big liability. So you do the next best thing: you dump them.