What do scammers actually do with the gift cards once they have been sent over?
When scammers get their hands on gift cards, they typically use them for quick and untraceable financial gain. Here’s what they actually do with the cards after someone sends them the codes: 1. Use the Gift Cards Directly Scammers often use the gift card codes to make purchases online. They can buy products, services, or even other gift cards, effectively converting the stolen value into something they can use or resell. 2. Resell the Gift Cards Scammers frequently sell the gift card codes on the black market or on shady websites at a discounted price. For example, they might sell a $100 gift card for $50 to quickly convert it into cash. 3. Launder Money Gift cards can be used as a tool for money laundering. Scammers may use the cards to buy items and then resell those items for cash, making it harder to trace the money’s origins. 4. Transfer the Value Some scammers use gift cards to purchase digital currencies, like cryptocurrency, w...