A serious security flaw with one of Australia’s major gift card operators has been uncovered by a YouTuber, exposing a vulnerability that allowed cyber criminals to steal funds from unsuspecting customers.
Simon Dean made the discovery after purchasing a $500 gift card, only to find the money had already been redeemed by someone else.
His investigation revealed a critical weakness in the website’s security system that enabled hackers to crack pin codes and systematically drain funds from gift cards.
The security breach potentially affected thousands of Australian consumers who purchased gift cards from the operator, leaving them out of pocket when they tried to use their legitimately purchased cards.
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The Card Network, the company behind the gift card system, has confirmed it has now fixed the security issue following the discovery.
The incident highlights the growing risks associated with digital gift cards and the sophisticated methods cyber criminals are using to exploit security weaknesses in online payment systems.
