‘Money Mule’ Gangs Turn to Bitcoin ATMs
Summary: Money mule scammers who hack corporate bank accounts are increasingly instructing recruits to convert stolen funds to Bitcoin through Bitcoin ATMs rather than wiring cash via Western Union or MoneyGram. A Canadian reader told KrebsOnSecurity she was hired by a fake firm called LunarBay at $870 per week plus a five percent commission, then told to withdraw funds in person at her bank and send them via a Bitcoin ATM using a supplied QR code within a three-hour window.
What you should know: The QR code given to that reader links to a Bitcoin account that received eight transactions in three days totaling more than 6.3 Bitcoins, roughly $3,823 - and because Bitcoin payments are non-refundable, the mule whose face is on the ATM camera is the one left exposed to police and to her bank's demand for repayment.
Read the original at Krebs on Security ↗
- Topics
- Fraud & Scams
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