US fraudster who cloned cards and converted cash to Bitcoin gets 4 years
- —116 of 310 attempted card transactions succeeded, totaling $730,728
- —Proceeds were moved to a Coinbase account to buy BTC and sent to external addresses
- —He also filed fraudulent loan claims worth $161,200 and $41,249
- —Court ordered about $811,000 in restitution to victims
Why it matters: The case shows how traditional card fraud is funneled into crypto and traced by US authorities.
Source: Livecoins