Anti-fraud action (3): Bankoff anonymous bankless virtual card

反诈行动(三):Bankoff 匿名无银行虚拟卡

Bankoff Background Research

The official website is https://www.bankoff.co

Self-proclaimed: Bankoff is a fintech company, not a bank

Company Name: Bankoff Company

Company Address: 2140 S Dupont Hwy. Camden, DE, 19934. According to Google Maps, it’s a warehouse.

Domain Name Registrar: Key-Systems GmbH

Domain name creation time: February 1, 2019

Domain name update time: May 31, 2021

Domain name expiration date: February 1, 2023

Domain name and privacy: protected by privacy

DNS provider: Google

ALEXA World Ranking: 458,371

IP analysis: multiple AWS IPs are used, mainly Japan in mainland China, and IPs in Ashburn/Portland in the United States and Dublin in Ireland in other regions

business model

Using Stripe US as the bottom layer, expanded functions such as robot support and cryptocurrency deposits.

Stripe fees are introduced here https://ift.tt/ouml8Ng

The so-called debit card and debit card recharge channels provided are all used StripeUS [Bankoff’s handling fee for this project is 4% + 0.3U]

The card provided uses Stripe US Issuing, the card organization VISA, and supports functions provided by Stripe such as Apple Pay and Google Pay

However, he supports the recharge and purchase of cryptocurrencies. It is said that he mainly uses USDT of TRC20 and BSC. Of course, I have not used it, so I am not sure which ones are there.

At the same time, it is said that it can be used without KYC. I heard that it is possible to use more than 200USD to need KYC?

cost

The main fees known to Stripe providers are:

Card collection: 2.9%+0.3USD [International Card+1%]

Virtual Card Creation: 0.1USD

Virtual card payment: 1%+0.3USD [international transaction+1%]

Of course, this is the public price, and large customers will definitely have a better price

cost

According to the official website and other known information, the summary is as follows

Use the service to buy USDT: 4%

Create a Card: Free

FTF: 2.3%+0.3USD

Stripe-based card recharge: 4%+0.3USD [According to feedback from netizens, Stripe Invoice is used, which supports WeChat payment and card payment]

blockchain address

According to netizen data report

TRX address: TLfWQWHmbvwTi7d7MsaXpWSoNqpHufBPim

BSC address: 0x71b959A205559e6a748BA2A29BEB5847Af0FdBc9

Evaluation

  1. This business model is theoretically very risky, and there is a great risk of losing funds and running away.
  2. It is impossible to verify the size and cost of the company. According to the business model, the cost and threshold are very low, and anyone can do it.
  3. There is no direct cooperation with the bank, and cooperation with Stripe, which has high risk control itself
  4. Insufficient completion of KYC work and threshold setting, there is a great security risk, and it will obviously be abused and sanctioned
  5. There is a great risk of money laundering due to the direct entry and exit of cryptocurrencies
  6. The fee increase is still reasonable, but it is not enough to support the risk cost. It can be compared with PP’s money-making methods.
  7. The so-called Bankoff card is just a striped commercial virtual card, and it is also a US commercial virtual card that is ridden by thousands of people.
  8. The domain name is rubbish, and it didn’t take long to renew
  9. So far, it’s almost delivered

primary user

According to online data analysis, it is mainly users in sanctioned regions such as China and Russia who use cryptocurrencies such as USDT and are subject to certain international payment restrictions, and many of them are practitioners in the gray and black industry.

Options

Paywithmoon, the same KYC-free, cryptocurrency recharge virtual card, of course, also has risks

Of course, there are also risks in the opening of domestic virtual cards and related financial platforms such as GEP and Payoneer.

WISE, Stripe and other overseas virtual card opening and related financial platforms, of course, also have risks

Velo, Schwab, CapitalOne, Sable and other overseas banks and financial institutions

You can read the summary of the availability of international non-UnionPay cards, credit cards, external standard cards, virtual cards, and commercial cards (datasets available to the Chinese mainland student party) for reference analysis

In addition, it is added that in Europe, the United Kingdom and other regulatory regions that do not restrict cryptocurrencies, it is extremely simple + cheap + fast to exchange fiat currency, even Chinese residents can do it, and the information is poor. According to relevant laws and regulations, relevant content is not displayed on this site, please move outside the site to read.

situation

Feedback of slow recharge appeared before March

Currently the robot automatically replies:

Dear customer,

Today we’ve received a letter from Visa and Stripe that Bankoff Card services have been suspended due to the high volume of active users and transactions from Russia. It means our cards are no longer supported for any offline and online payments.

As we are currently trying to access funds that have been frozen in our USA account please be informed that we’re doing our best to resolve this issue.

Bankoff Team

When this article was published, the balance of the TLfWQWHmbvwTi7d7MsaXpWSoNqpHufBPim address used by many netizens was 246USDT, and the accumulated deposit was about 612W USDT]

The author obtained the real-time content of the above notification in 20220503-1853, posted it on the blog channel within 1 minute, and conducted an investigation.

Blockchain data analysis

BSC address

Transaction with hash 0x5fedf5e8ac5438156ea32a38a0d42558cc26868013f829644d771898c69c29bd in BSC address 0x71b959A205559e6a748BA2A29BEB5847Af0FdBc9 ;

The transaction time is 20220503-1850, the value is 48,791 USD, and it is transferred to this address of 0xC1EE5B7E0c081Ccc05B783ebED8C38Cf20636d56

Notice in this address 0xC1EE5B7E0c081Ccc05B783ebED8C38Cf20636d56 that in 20220503-1852 coins worth 48,791 USD were transferred to an address identified as an FTX exchange

TRX address

Transaction with hash 22564d690c67534832121be482b60e67700cb560e23a38a9f9cf7b0db4b4268d in TRX address TLfWQWHmbvwTi7d7MsaXpWSoNqpHufBPim ;

The transaction time is 20220503-1849, the value is 69234 USD, and it is transferred to the address TRCNKF3tbyTPE5QLaVSdWtiKFuS5NfKDg3 (the cumulative deposit of this address is about 136W USDT)

Then it was quickly transferred to the address TYDzsYUEpvnYmQk4zGP9sWWcTEd2MiAtW6 after 3 minutes. According to network data analysis, it seems to be the public address of FTX.

summary

All blockchain funds are transferred to the FTX exchange, and the cumulative book value is not less than 118K USD

At the same time, according to its own announcement, it is possible that the Stripe account has been banned and has a balance. Generally speaking, if there is money in Stripe but it is blocked, there are two situations. One is that the money will not be confiscated, and the other is that the money will be refunded after 120 days.

But after doing this, even if the operator gets the money, it is still a question whether they will refund it, and it is even more unknown how much money is in the stripe.

This article is reprinted from: https://www.blueskyxn.com/202205/5971.html?utm_source=rss&utm_medium=rss&utm_campaign=%25e5%258f%258d%25e8%25af%2588%25e8%25a1%258c%25e5%258a%25a8% 25ef%25bc%2588%25e4%25b8%2589%25ef%25bc%2589%25ef%25bc%259abankoff-%25e5%258c%25bf%25e5%2590%258d%25e6%2597%25a0%25e9%2593%25b6%25e8 %25a1%258c%25e8%2599%259a%25e6%258b%259f%25e5%258d%25a1
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