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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.