The Twitch money laundering scandal, $10 million theft, and more explained

Twitch has been embroiled in another controversy as recent leaks reveal a massive money-laundering scandal unfolded in Turkey. Dozens of Twitch streamers who play Valorant have been found guilty. With the help of hackers, the streamers laundered almost $10 million of Twitch money in bits.Jake Lucky@JakeSuckyA MASSIVE Twitch scandal is ongoing in the Turkish scene involving dozens of esports players and streamers money laundering through bit donationsAfter Twitch’s massive payout leak, people noticed several smaller streamers making absurd amounts of money from bits (1/2)10:54 AM · Oct 30, 20218157364A MASSIVE Twitch scandal is ongoing in the Turkish scene involving dozens of esports players and streamers money laundering through bit donationsAfter Twitch’s massive payout leak, people noticed several smaller streamers making absurd amounts of money from bits (1/2)Twitch data leak reveals huge money-laundering scandalAfter the massive Twitch data leak in early October revealed the salaries of every streamer on the platform, users noticed that many small streamers in Turkey were earning huge amounts of money every day. They had about 50 viewers in their stream, but were earning thousands of dollars in the form of bits.Ragıp Soylu@ragipsoyluScandal in Turkey: • $10 million estimated to be laundered through Turkish Twitch broadcasters •Stolen credit card information is used to pay broadcasters, who get a cut and then launder money back to a different bank account By @muhdansaglammiddleeasteye.net/news/turkey-tw…5:41 AM · Nov 2, 202149459Scandal in Turkey: • $10 million estimated to be laundered through Turkish Twitch broadcasters •Stolen credit card information is used to pay broadcasters, who get a cut and then launder money back to a different bank account By @muhdansaglammiddleeasteye.net/news/turkey-tw…It was assumed that hackers were using stolen credit cards to transfer the money to these streamers in the form of bits, which the streamers were then sent back to the hackers after keeping a share of the money.Jake Lucky@JakeSuckyThe idea is that the scammers use stolen credit cards to donate bits to streamers, who then give part of it back to the scammers, and keep the rest for themselves Many of whom are likely aware that this is dirty money10:55 AM · Oct 30, 2021300957The idea is that the scammers use stolen credit cards to donate bits to streamers, who then give part of it back to the scammers, and keep the rest for themselves Many of whom are likely aware that this is dirty moneyFurthermore, according to Jake Lucky, some streamers are also using bots to watch ads to earn bits from that.Jake Lucky@JakeSuckyScammers are also hacking Twitch accounts to donate bits to streamers And supposedly some are using bots to watch ads to earn bits and then mass donating those as well11:34 AM · Oct 30, 2021144528Scammers are also hacking Twitch accounts to donate bits to streamers And supposedly some are using bots to watch ads to earn bits and then mass donating those as well https://t.co/WOfO7D2iS7Several Valorant streamers based in Turkey have confessed to their involvement in the money laundering scandal. Two of them have said that they will not return to streaming. However, one of the accused streamers, who goes by the name cNed, denied knowing the transactions were illegal. He claimed that the hacker liaised with his brother, so he was unaware of the details. However, he admitted not reporting the transaction to Twitch:&quot;That guy sent me the bits, the bits transferred to me. I didn’t report those bits to Twitch, I acknowledge that. I didn’t report to Twitch and took the money.&quot;Jake Lucky@JakeSuckyRiot Turkey is expected to be issuing bans to several Valorant pros involved in the Twitch money laundering scandal7:53 AM · Oct 31, 20214697126Riot Turkey is expected to be issuing bans to several Valorant pros involved in the Twitch money laundering scandalRiot Turkey has condemned the actions of these streamers and said that necessary action would be taken against them. The Turkish government is aware of the situation and they echo the sentiments of Riot Games.

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