ChainCatcher reported that some criminal groups are using a "free credit card repayment" pitch to recruit members of the public to hand over their credit cards and personal identity information. The report said the groups then launder illicit money tied to offshore gambling and telecom fraud by fabricating consumption records and other transactions. After that, they contact crypto dealers to exchange the funds into virtual currencies and move the assets overseas. The report did not disclose additional details on the scale of the activity or the specific cryptocurrencies involved.
According to ChainCatcher, some criminal groups are using a "free credit card repayment" offer to lure ordinary people into providing their credit cards and identity information.
The report said the groups launder illicit funds linked to offshore gambling and telecom fraud through fabricated consumption and similar methods, then contact crypto dealers to exchange the money into virtual currencies and transfer it overseas.
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