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Feds Bust a Dark-Web Counterfeit Coupon Kingpin
Sparrowvsrevolution writes: The dark web has become the go-to corner of the Internet to buy drugs, stolen financial data, guns...and counterfeit coupons for Clif bars and condoms? The FBI indicted Beauregard Wattigney yesterday for wire fraud and trademark counterfeiting on digital black market sites Silk Road and Silk Road 2. Wattigney allegedly spoofed coupons for dozens of products and sold collections of them online in exchange for Bitcoin. The FBI accused him of doing $1 million worth of collective damage to the companies he made coupons for, but a fraud consultancy believes the total financial cost of his actions was much higher. Wattigney also offered expensive lessons that taught people how to make their own coupons. "In his tutorials, [he] explained the simple breakdown of barcode creation using the increasingly universal GS1 standard: GS1 codes begin with a 'company prefix' that can be copied from any of the company's products. The next six digits are the 'offer code,' which can be any random number for a counterfeit coupon, followed by the savings amount listed in cents and the required number of item purchases necessary to receive the discount."
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