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What?! It is definitely credit card fraud, and a criminal enterprise, and by any definition it is wrong. I cannot imagine a jurisdiction where this is a “mere breach of contract”.

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Where are you getting the idea that the cards are stolen? Sure it's mentioned that some of them likely are, but there's no reason to believe that that's most of them or that the fact that they're stolen has anything to do with the way this market functions.

This is about controlling who gets to use the tokens for what, not about payment fraud.

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