This Scammer Used Venmo to Steal $25,000 USD Worth of Camera Gear

Paid using money from stolen financial accounts.

By
Tech
4,975 Hypes 0 Comments

If you ever come across a guy named “Andy Mai” on Facebook Marketplace or Venmo, stay away from him. According to The Verge, Mai is a Los Angeles-based scammer who has ostensibly robbed $25,000 USD worth of expensive camera gear from four users on the social media bazaar using the popular payment services app.

How did he get away with it? Mai used a strange payment strategy on Venmo which consists of sending a string of small monetary installments to the seller. The unassuming sellers would receive the payments and then hand off their precious and pricey gear to the scammer. Moments after the transactions, however, Venmo would cancel the transfers and apply a ban to the sellers’ accounts. The reason being is that the app doesn’t permit users to receive cash for items. What’s worse, Mai reportedly paid the sellers using stolen financial accounts.

One victim who goes by the name Rasa received a total of “52 total transactions, each under $100 USD” from Mai. “I wasn’t a merchant,” Rasa explained to the website. “I’m not in the camera-selling business. This is the first camera I’ve sold in six months.” The camera in question is a Blackmagic URSA Mini 4.6K which Rasa priced at $1,500 USD.

Only four sellers were confirmed to have been scammed by Mai, but upwards to 20 people may have also been robbed. If true, the losses could amount to a hefty $100,000 USD. Moral of the story: don’t accept staggering payment transfers on Venmo and the minute you suspect fraudulent activity, be sure to contact customer service immediately through e-mail at support@venmo.com or by phone at 855-812-4430.

Read Full Article
Source
The Verge
Image Credit
Venmo

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

494 Users Online

What to Read Next

Lazy Oaf's 2017 Fall Lookbook Is Inspired by 1980's UK Rave Culture
Fashion

Lazy Oaf's 2017 Fall Lookbook Is Inspired by 1980's UK Rave Culture

“This collection started with a trip down memory lane to illegal raves in muddy fields.”

Aaron Bondaroff Speaks On KNOW WAVE's Undefinable Existence and Balancing Social Media
Music

Aaron Bondaroff Speaks On KNOW WAVE's Undefinable Existence and Balancing Social Media

“Our first goal is just to be able to archive whatever’s happening in culture, around our community.”

032c Releases Limited Edition Porcelain Ashtray in Homage to Max Ernst
Design

032c Releases Limited Edition Porcelain Ashtray in Homage to Max Ernst

A numbered series consisting of 100 pieces.


Habanos Offers a Clean Mix of Americana Workwear for 2017 Fall/Winter
Fashion

Habanos Offers a Clean Mix of Americana Workwear for 2017 Fall/Winter

Truck jackets, Navajo fleece coats, patched-up jeans and more.

A Girl and a Sea Creature's Friendship Blooms in Trailer for Guillermo del Toro's 'The Shape of Water'
Entertainment

A Girl and a Sea Creature's Friendship Blooms in Trailer for Guillermo del Toro's 'The Shape of Water'

An unlikely bond flourishes.

Skechers Actually Made Three Copycat Versions of the YEEZY BOOST 350 V2 "Beluga"
Footwear

Skechers Actually Made Three Copycat Versions of the YEEZY BOOST 350 V2 "Beluga"

One of which is a dress shoe.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.