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Twitch was founded in 2011. Did you know that Twitch makes a large share of its income through subscriptions? In 2020, Twitch had 15 million viewers per day, more than 3,000,000 broadcasters, and more than 27K partnered channel.
We do not endorse, promote or oppose any live streaming platform. The following information was compiled from different sources and is intended to be informative.
Let’s see how many viewers were attracted to Twitchgive scam in the United States.
Plotting Twitch Scam
Twitch, a live streaming platform, broadcasts live gaming and live music. Twitch was created to demand more from broadcasters. Twitch currently takes half of subscription money and pays broadcasters the other 50%. Twitch retains $2.50 if a viewer subscribes for $5 per month to a channel.
Scammers used the loopholes in this system to plan money laundering via Twitch. More than 9,000,000 Twitchgivescam channels were created by the scammers.
Many popular broadcasters demanded more payments, claiming that Twitch had a 50% share. Twitch employees revealed that Twitch requires videos to be streamed at 1080P for channels with over 5K subscribers. Twitch could not afford to broadcast such a broadcast due to its huge viewership.
These fake channels were not created to increase paid subscribers. Instead, they used stolen credit cards to transfer Bits to their channels. Bits, the native currency of Twitch, can be bought with real money using credit cards or other methods of payment.
How Twitchgive Work?
The Bits were considered earnings by the broadcasters and were in turn paid real money as part of their earnings. The scammers who stole the credit card information of innocent people didn’t make any purchases nor withdraw any money. They instead used Twitch to pay them in indirect ways.
While looking for scammers, another scam was discovered. Broadcasters who included live gaming purchased large amounts of native currency and in-game items. They offered to sell them to their viewers for a low price, resulting in Twitchgive scam. The viewers wanted to purchase in-game items in small quantities so they were divided and distributed.
This is another type of money laundering, which is hard to trace.
These cases were brought to the forefront because broadcasters earning more than $1,800 per hour but having only 40-50 viewers came to light. Hackers gained access to Twitch’s payment data in October 2021. Analyzing the payment trends revealed that more than $10 million was taken by these scammers. It was found that Twitch had thousands upon thousands of these Scamming channels.
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