Showing posts with label trading. Show all posts
Showing posts with label trading. Show all posts

Thieves Stole $963,000 in Trading Cards From a FedEx Truck — Now the Stolen Cards Could Turn Up For Sale


FedEx trucks; CC BY-2.0 Wikimedia Commons
 

A parked delivery truck, a broken lock, and about an hour of nobody watching. That is all it took for thieves to pull off one of the biggest trading card theft jobs in recent memory — and if you buy collectible cards online, the fallout from this heist could land in your shopping cart.

What Happened Outside PSA Headquarters in Santa Ana

On October 13, a FedEx truck loaded with graded trading cards was parked outside the headquarters of Professional Sports Authenticator — better known as PSA — in Santa Ana, California, about 33 miles southeast of Los Angeles. PSA is the company collectors pay to authenticate cards, grade their condition, and seal them with a certificate number.

According to the Santa Ana Police Department, the driver left the truck unattended for somewhere between 60 and 90 minutes. When the truck was checked again, the lock was gone. Two full pallets of packages had been stolen — roughly 100 packages per pallet — and a third pallet holding about 50 more packages had been disturbed. All told, around 250 packages of cards disappeared.

Police put the estimated value of the stolen cards at $963,000, while noting the exact total has not been determined yet and the value of the third pallet was still being assessed. The cards were a mix of sports cards and Pokémon cards that had finished the grading process and were being shipped back to the collectors who own them. As of October 20, police had made no arrests and recovered none of the stolen items.

Why Graded Cards Have Become a Prime Target for Cargo Theft

Trading cards are not a kids' hobby anymore. They are an investment market, and professionally graded cards in sealed holders can sell for many times what an ungraded copy brings. Rare cards have sold for millions of dollars, which makes a pallet of freshly graded cards worth stealing in a way a pallet of toys never would be.

This kind of cargo theft is attractive to criminals for another reason: cards are small, light, untraceable at a glance, and easy to move through online marketplaces, card shows, and social media sales groups. Two pallets can fit in a single vehicle and be scattered across a dozen selling accounts within days.

The human cost sits with collectors like Skyler Bennett, who posts as Sky-B Cards on YouTube. Bennett told reporters that 104 of his cards were in the stolen shipment — cards he had spent two years accumulating and paid more than $8,000 to have graded. His order alone was insured for up to $156,000, and he said many of the cards are irreplaceable.

PSA Deactivated the Certificates on the Stolen Cards

There is one piece of good news for buyers. Collectors, the parent company of PSA, says it has deactivated the certificates for every card in the stolen shipment and notified its marketplace partners to watch for rare and serialized items turning up for sale. Each genuine PSA graded card carries a unique certification number, and a deactivated number is a red flag that the card in the holder is part of this theft.

Collectors also said it contacted affected customers directly and arranged compensation based on fair market value, and both the company and FedEx say they are working with law enforcement. FedEx called shipment security a top priority in its statement.

The Scam Risk: Stolen Cards and Fake PSA Emails

Here is where this story turns into a fraud warning. Nearly a million dollars in stolen merchandise has to be sold somewhere, and the most likely venues are the same places honest collectors shop: online marketplaces, auction sites, livestream sales, and buy-and-sell groups. Expect some of these cards to surface with prices that look like bargains — because the seller's cost was zero.

There is a second risk. Customers affected by the theft have posted online about receiving emails from PSA explaining what happened. Whenever a company sends a mass email like that, scammers copy it. Fake messages pretending to be PSA, Collectors, or FedEx — asking victims to "verify their claim" or "confirm compensation" through a link — are exactly the kind of collectibles scams and phishing attempts that follow a public theft like this. If you were affected, go to the company's real website yourself instead of clicking links in any email.

How to Protect Yourself When Buying PSA Graded Cards

Before you pay for any high-value graded card, run its certification number through PSA's online cert verification tool. If the number comes back deactivated, invalid, or belonging to a different card than the one pictured, walk away — no matter how good the price looks.

Buy through established marketplaces with real buyer protection, and be suspicious of sellers who push you toward off-platform payments, gift cards, or wire transfers. A rare or one-of-one card offered well below its recent sales prices, by a brand-new account, with pressure to pay fast, is the classic shape of a scam. And keep your own records: if you submit cards for grading, photograph them and save the certificate numbers, so you can prove what is yours if a shipment ever goes missing.

Police in Santa Ana are still investigating, and the exact value of what was taken may climb past the $963,000 estimate once every pallet is accounted for. Until the cards are recovered, the safest assumption for collectors is simple: the stolen inventory is out there, it will be offered for sale, and the certificate check takes thirty seconds. Do it every time.

California Woman Wires Her $720K Life Savings to a Scammer. She is Now Suing Chase Bank

An 80-year-old woman is suing Chase Bank after she fell for a crypto investment scam known as "pig butchering" that took over $720,000 of her life savings, and left her "struggling to pay her bills."

Chase bank (stock photo)Photo byMike Mozart; CC BY 2.0 DEED

A Taiwanese immigrant and senior citizen with a disabled adult son had no idea she was being scammed, but this is how many "pig butchering" scams go.

A scammer gains the trust of an unsuspecting person and convinces them to send money or invest money in a scheme, and it ends with the victim losing all of their money.

This is what happened to one California woman who is now desperately suing Chase bank after losing over $720K to a scammer.

Los Angeles Woman Trusts Scammer and Loses Life Savings

KCAL-TV News reported that 80-year-old Alice Lin in Los Angeles thought that a man she met on WeChat would help her make money with cryptocurrency investing in a trading app. She didn't know the man and met him when he messaged her for the first time.

He gained her trust through an online friendship that started on WeChat.

He then convinced her to download a "trading app" and he convinced her to send her money, but she didn't realize it was not a real investing app.

She said:

“Then I was thinking, I can help my son, who is on disability. So, I thought, that would be good. That I can, you know, make a little bit of money.” -Alice Lin, Chase bank customer
Alice Lin, 80Photo byKCAL-TV News

Then over several weeks, he convinced her to wire over $720,000 to him. She went to her local Chase bank branches to wire "hundreds of thousands of dollars" over several days in August, and the total amount came to $721,500.

After he received the money, all communication from the scammer stopped.

It was a scam, and the returns on her money were too good to be true.

She said:

“He gave me the instructions and where to send the money to. So for me to go to the bank, to wire the money, and at that time, I totally trust him, so I just follow him.” -Alice Lin, Chase bank customer

CBS 4 News Miami reported that Lin was extremely depressed after she lost $720K, to the point that she felt suicidal.

With very little left in her bank account, she is now "trying to find comfort in the simple things in life," because the pig butchering scam stole her life savings.

Alice Lin is Suing Chase Bank After Losing $720K in Scam

Now, she holds Chase Bank at fault for allowing her to send her money to a scammer.

"Only if they had done a little something to protect elders like me from being scammed, I wouldn't be where I am now an 80-year-old widow left to pick up the pieces of my life." -Alice Lin, Chase bank customer

On Monday, 26 February 2024 Lin's attorney Anne Marie Murphy filed a complaint in the Los Angeles Superior Court, citing "red flags that Chase bank knew Ms. Lin was being scammed or definitely should have known."

Sources


Lopez, Lolita. "Grandmother loses life savings and sues bank." NBC 4 News. Updated 26 February 2024.

Sabir, Nadirah. "Woman, 80, loses $720,000 in savings due to crypto scam 'at my age, I do not have a second chance'." CBS 4 Miami. 6 March 2024.


Email Phishing from Bedroom

Email Phishing from Bedroom