alt Hacker NewsThere's a lot of assertion here and the other article that this fraud and abuse but is there any evidence of that?
A simpler explanation is that that this is just a resale market.
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thunderfork • today at 6:00 PM
Any situation where you can extract a benefit from a stolen credit card and then sell that benefit before the chargeback renders it moot will have some fraud-based usage.
From talking with some of the companies experiencing this, I can confirm that a portion of it is actual credit card fraud. Tokens have become a pseudo-currency, making them a prime target for abuse.
Some of the abuse is more benign, but there is also real fraud through chargebacks, account takeovers, and stolen credit cards.