18 Arrested in Twitch Money Laundering Scandal
While it's true that streaming platforms have seen declining growth since last year, Twitch, in particular, has had a noticeable decline in recent times. One big reason for this is due to the platform's handling of a number of issues ranging from compensation matters to how it treats streamers. The situation was so problematic that a number of major Twitch departures kicked off in late 2021, prompting the company to bring in changes, including a notable shift in its monetization approach. Now, news of a police raid pertaining to a Twitch money laundering scam puts the spotlight on one of the platform's more problematic areas.
On May 17, Istanbul-based police cybercrime units conducted a wave of raids, arresting 18 suspects allegedly connected to a Turkish money laundering scheme on Twitch. The suspects are accused of collaborating with Twitch streamers with a high number of followers where they would endorse the streamers with money from stolen credit and deb cards via Titwitch's virtual currency called bits. Once these are sent, the suspects would receive the cash in return from the streamers.
Details of this scam first came to light back in 2021 when Twitch's entire source code was dumped online, where it also included streamer payout details. The leak revealed that certain streamers were earning far beyond what they would typically earn compared to viewer numbers. Users had since been calling for the Amazon company to take better measures in preventing these types of frauds from happening on the platform. So far, Twitch has reportedly taken action against 150 streamers for abusing its monetization tools which have amounted to $9.8 million in laundered money.
This isn't the first time Turkish authorities have conducted operations related to the scam. In January, Turkish authorities detained 40 suspects across 11 provinces allegedly connected with the incident. While it's unclear how far this fraud extends, the new wave of raids makes it 58 total arrests, along with another suspect still wanted by the police. Time will tell how Twitch responds to the situation amid a host of other issues on the streaming giant's platform.
Posted:
Related Forum: Gaming Discussion
Source: https://gamerant.com/18-arrested-in-twitch-money-laundering-scandal/
Related Articles
Comments
Latest Downloads
- 01. SnowRunner: SaveGame (all locations are opened) [32.0](1)
- 02. [EU] Resident Evil 6 MainGame+All DLCs [CUSA03840](1)
- 03. Elden Ring SAVE FILE (CUSA18581)(0)
- 04. Dead Island 2 - NG+ Trophies PS4, PS5 - CUSA27043(1)
- 05. Infinite Stratos 2 Love and Purge(0)
- 06. Real Racing 3: SaveGame (perfect start) [12.7.1](0)
- 07. What the Car?: SaveGame (Game completed 83%) [v15692787](0)
- 08. Fallout 2: SaveGame(0)
- 09. Ben and Ed: SaveGame (all levels open, bonus levels, Bencalypse)(0)
- 10. Double Dragon Gaiden: Rise Of The Dragons - SaveGame (100% completion)(2)
- 11. Metro: Last Light - SaveGame (to get the achievement Specialist)(0)
- 12. Frogun Encore: Game Save (The Game done 101%)(0)
- 13. Warhammer 40000 space marine 2 saves(15)
- 14. Lollipop Chainsaw RePOP: SaveGame (100%, everything is open)(0)
- 15. Dead Space 2 - Save Game (The Game done 100% on impossible difficulty) [1.1](1)
Latest Tutorials
- 01. PS3 HEN - Audio via a USB headset.(133)
- 02. Stumble Guys | Social Butterfly Achievement(95)
- 03. Last Days of Lazarus Achievement Walkthrough (Xbox/PS)(1,341)
- 04. EDENGATE: The Edge of Life - 100% Trophy/Achievement Guide(1,649)
- 05. Sherlock Holmes Chapter One | Walkthrough | No Commentary(1,365)
- 06. Morbid: The Seven Acolytes | Full Game Walkthrough(2,120)
- 07. Adam Wolfe | Full Game Walkthrough | No Commentary(1,458)
- 08. ALFRED HITCHCOCK: VERTIGO - 100% Walkthrough(1,695)
- 09. SHERLOCK HOLMES THE AWAKENED | Walkthrough | No Commentary(1,205)
- 10. Space Roguelike Adventure | Guide - Cheat Code!(1,418)
- 11. DETECTIVE Stella Porta Case | Trophy & Achievement Guide(1,113)
- 12. Tunic 100% Platinum Walkthrough | Trophy & Achievement Guide(1,714)
- 13. Outbreak: The Nightmare Chronicles Achievement Walkthrough(1,369)
- 14. Full Void 100% - Trophy & Achievement Guide(1,313)
- 15. Outbreak: Lost Hope #Xbox Achievement Walkthrough(2,082)
"18 Arrested in Twitch Money Laundering Scandal" :: Login/Create an Account :: 2 comments