Gift card cannot be cashed out, right?
I don't follow how this scam can be profitable. Are they reselling the gift card? I did not find mentioning that in the article.
I don't follow how this scam can be profitable. Are they reselling the gift card? I did not find mentioning that in the article.
Additionally, a quick google search for "sell gift cards online" reveals many sites that offer the ability to sell your gift cards. One example: https://www.cardcash.com/sell-gift-cards/
Why go after hotel or airline rewards? Because these accounts can all be cleaned out and deposited onto a gift card number that can be resold quickly online for 80 percent of its value.
“These guys want that hard digital asset — the cash that is sitting there in your inbox,” Bill said. “You literally just pull cash out of peoples’ inboxes, and then you have all these secondary markets where you can sell this stuff.”
Outside of that, there's a huge grey market for "discounted" gift cards. That's probably where most of these are going.
And then even when they do pay you they could always tell paypal that the code didn't work.