While it’s true that streaming platforms have seen declining growth since last year, Twitch, in particular, has had a noticeable decline in recent times. One big reason for this is due to the platform’s handling of a number of issues ranging from compensation matters to how it treats streamers. The situation was so problematic that a number of major Twitch departures kicked off in late 2021, prompting the company to bring in changes, including a notable shift in its monetization approach. Now, news of a police raid pertaining to a Twitch money laundering scam puts the spotlight on one of the platform’s more problematic areas.
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On May 17, Istanbul-based police cybercrime units conducted a wave of raids, arresting 18 suspects allegedly connected to a Turkish money laundering scheme on Twitch. The suspects are accused of collaborating with Twitch streamers with a high number of followers where they would endorse the streamers with money from stolen credit and deb cards via Titwitch’s virtual currency called bits. Once these are sent, the suspects would receive the cash in return from the streamers.
This isn’t the first time Turkish authorities have conducted operations related to the scam. In January, Turkish authorities detained 40 suspects across 11 provinces allegedly connected with the incident. While it’s unclear how far this fraud extends, the new wave of raids makes it 58 total arrests, along with another suspect still wanted by the police. Time will tell how Twitch responds to the situation amid a host of other issues on the streaming giant’s platform.
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Source: DAILY SABAH
