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As if Twitch wasn’t involved in too many controversies recently, a related problem that has dragged on for a long time has returned to give something to talk about. We are talking about the investigation of a money laundering network that was carried out by criminals and streamers taking advantage of the streaming platform’s monetization model and that today registered new arrests.
More money laundering arrests on Twitch
According to a report from GameRant, the cybercrime unit in Istanbul, Turkey, dealt a new blow to the money laundering network that used Twitch as a platform for its operations. This time, there were 18 arrests related to the large-scale operation involving streamers that resulted in enough money being laundered to draw the attention of authorities. Only at the beginning of this year, 40 people related to this money laundering operation were arrested, now giving a total of 58 involved who are awaiting due process after committing this financial crime.
Video: BITS – Twitch hacked! Why did they do it?
This is how the Twitch money laundering network operated
In case you didn’t know, this money laundering operation used Twitch in the following way: criminals donated Bits (platform currency) to streamers in what appeared to be a normal relationship between the creator and the audience. The streamers would then withdraw the money and deposit between 50% and 70% to an account. The detail that caught our attention was that the amounts received in Bits were highly exaggerated for the few followers. However, all this was not known until the famous Twitch hack, which revealed some very interesting information.
Stay informed, in LEVEL UP.
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