Using stolen credit cards and Apple Pay, an identity thief was able to purchase nearly $100,000 in bitcoin and more than $600,000 in luxury goods. Aaron Laws of Atlanta purchased over 500 stolen credit card numbers on the dark web and loaded them into Apple Pay-enabled phones, allowing him to make purchases without having the physical cards.
Several other persons, including Laws’ boyhood friends Dennison Ellis and Jeffrey Mayfield, were also implicated in the scheme.
Between February 2017 and December 2018, the purchases were made online as well as at Apple Retailers and jewelry stores.
Furthermore, on August 23, 2017, Laws invested $93,000 in bitcoin. Because one BTC was worth roughly $4,000 at the time, Laws’ purchase of approximately 23 BTC in 2017 would be worth more than $700,000 now.
Laws has been sentenced to three years in prison and ordered to pay $624,000 in restitution, which has only recently become public information.
The crook admitted to making numerous poor decisions and pleaded guilty. After a knee injury prevented him from playing college basketball, he confessed that he struggled with despair and substance misuse.
Accomplices Ellis and Mayfield both pled guilty and received sentences of $283,000 and $181,000 in prison and restitution, respectively.
Is Apple interested in purchasing bitcoin? Rumors
Meanwhile, rumors have been spreading on social media that Apple has invested $2.5 billion in bitcoin and is set to announce it.
However, for a variety of reasons, there are serious doubts regarding the veracity of these accounts.
For starters, these are unreliable sources that have not been authenticated by the company.
Furthermore, the original sources have not been revealed, and the sources have even joked about it as if it were a joke.
Finally, according to the original source, the announcement would be made public on Monday, but this did not materialize.
Despite this, the corporation has yet to issue a denial, thus the potential of a bitcoin purchase cannot be ruled out entirely. Other rumors have surfaced recently concerning Apple entering the crypto sector, possibly with its own exchange or payment-related services, especially given the company’s recent declaration that it was looking for Bitcoin experts.
Furthermore, Apple co-founder Steve Wozniak recently expressed strong support for Bitcoin.