Wildberries Suffers 385 Million Ruble Theft Through Payment Processing Flaw

Wildberries, a major online retailer, has reported a loss of 385 million rubles due to a payment processing vulnerability that was exploited by fraudsters. The company has contacted law enforcement regarding the incident, which involved a sophisticated scheme targeting their platform.

How the Fraud Worked

According to reports, the scammers registered on the Wildberries marketplace as sellers. They then listed non-existent products and, acting as buyers, attempted to purchase these items using incorrect payment details. Despite the payment information being invalid, the system processed the transaction as if it were successful.

As a result, Wildberries transferred funds to the fraudulent sellers, believing the sales had been completed. Meanwhile, the bank blocked the transactions initiated by the fake buyers, but the money from Wildberries still ended up in the hands of the scammers.

Industry-Wide Risks

Experts warn that similar fraudulent schemes pose a threat to all online marketplaces, especially those focused on rapid growth. The incident highlights the importance of robust payment processing and fraud detection systems for e-commerce platforms.

Investigation and Response

According to the Russian newspaper Kommersant, they have reviewed a copy of Wildberries’ official statement to the police in Moscow. The company has requested a criminal investigation into the theft of over 385 million rubles. A photo of the statement has been shared on the Telegram channel “Banksta.”

While the exact details of the fraudulent scheme have not been fully disclosed, it is clear that the vulnerability allowed scammers to receive payments for fake sales, even when the buyers’ transactions were blocked by the bank.

Conclusion

This incident serves as a warning to other online retailers about the risks of payment processing vulnerabilities. Companies are encouraged to review and strengthen their security measures to prevent similar losses.