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Sift uncovers new Telegram fraud scheme to steal from restaurants and food delivery services

Friday 12 February 2021 14:03 CET | News

US-based digital trust and safety company Sift has announced that it has identified a fraud scheme where cybercriminals leverage the Telegram messaging platform to steal from restaurants and food delivery services. 

According to the press release, research and analysis from Sift’s Digital Trust and Safety Architects found that bad actors are advertising their services on Telegram forums in order to purchase food and beverage orders at a reduced price, using stolen payment information on behalf of customers.

How it works:

  • Professional fraudsters post in Telegram forums, such as ‘Fraud Market’, advertising their ability to illicitly buy food and beverage orders at heavily discounted rates, typically 60-75% off;

  • Diners interested in taking advantage of this offer direct-message the professional fraudster along with a screenshot of their shopping cart from a food delivery service and their delivery address to place the order;

  • The fraudster responds via direct message offering to buy the items in the shopping cart for a fraction of the actual cost;

  • Once the fraudster accepts the order, the diner pays the fraudster using cryptocurrency, such as Bitcoin or Ethereum, via PayPal, Venmo, or Cash App;

  • The fraudster then either creates a new account and uses stolen credit card details or leverages a hacked account with stored value to pay for the meal and have it delivered to the diner.


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Keywords: Sift, fraud, fraud prevention, Telegram, US, North America
Categories: Payments & Commerce | Digital Identity, Security & Online Fraud
Countries: United States
This article is part of category

Payments & Commerce