https://purse.io/ is a website for committing fraud with stolen credit cards.

It's a website that specializes in letting criminals convert credit card details (PAN/cvv/expiry) into bitcoin while exposing them to minimal risk.

There are very real ways to commit such fraud.

Yeah, it's really not that easy.

I'm sure it may seem so for someone who's really never dealt with fraud, but it's definitely not as easy as just signing up to amazon and making an order.

If you tried to use UK cards gained from doing this, I assure you, not a single one of your orders would ever ship.

You'd just be wasting your time getting all your drop addresses (or purse customer addresses) blacklisted.

Not really, purse.io does not facilitate fraud more than Amazon itself does. Purse.io just connects people who are willing to buy bitcoin using Amazon gift cards for a premium, and those that would like to purchase products on Amazon using bitcoin.

It's an out and out money laundering service. It exists for no other reason, there are no legitimate circumstances where someone would want or need to sell amazon gift cards at less than their face value. It is straight up money laundering and it's frankly incredible that it's lasted as long as it has.

> no legitimate circumstances where someone would want or need to sell amazon gift cards at less than their face value.

Absolute statements like this are so hard to back up.

For instance, if you live in Cuba, Iran, Syria, North Korea, or Syria, Amazon.com gift cards are worthless.

I know I received some AmericanEagle gift cards as a promotion recently, and unloaded them for less than face value just because I had absolutely no need/want to use them.

> there are no legitimate circumstances where someone would want or need to sell amazon gift cards at less than their face value

Many credit card rewards programs offer Amazon gift cards as a redemption option. The points:value ratio on these is generally significantly better than the ratio on cash rebates, even when you consider the hit taken on sites like purse.

e.g. 10,000 points might be redeemable for $100 in Amazon GC, but only $50 in cash, so even if you get the GC and sell them for $85, you still do better than if you had straight redeemed it for USD.

You can buy all kinds of valuables online, which you then resell. Gift cards are quite common.

You can potentially issue an old-style mag-stripe credit card knock-off, and pay with it in an offline store. IDK if it's worth the effort: the card should look reasonable physically, too.

No, there's an analogue of the CVV2, the CVV1, which is only present on the magnetic stripe. The information you'd get from an online transaction is not enough to print a working magstripe.

There are still offline processors that don't read magstripe and just take a copy of the card and a signature.

Yep, ever have a merchant enter your CC number on the keypad IRL? That's what's happening. The fees for these types of transactions are typically higher as your processor is assuming more risk, so they prefer to only do them when they need to. See https://www.mastercard.us/content/dam/mccom/en-us/documents/... if you're really curious about how this stuff works in the MasterCard case. Visa is similar AFAIK.

Not a repeatable form of fraud. You won't be able to make money abusing offline processing.

Why not just buy magnetic stripe dumps for a couple of $ each online? Significantly better risk/reward ratio.

Game gifts on online stores, such as Steam, are a common target.

Apple Store gift cards are another which are popular with scammers and fraudsters for whatever reason. I'm curious now what that reason is.

Yes, and you won't be able to use this data on such sites.

You'd be stopped by the very first line of defence, AVS checks.