My daughter wants to go see Taylor Swift this week. I thought it would make a great Christmas present. I went online to try to buy some tickets. Ticketmaster was sold out. So I went to an online ticket broker. The seats started at $500 per ticket. What?!?
It seem these online resellers control the market. But isn’t there a little box you have to fill out with goofy shaped letters to make sure you aren’t able to buy more than a certain number of tickets? These online ticket resellers developed software which allowed them to override these encryptions.
Now several men have been indicted on charges of fraud in connection with such a scheme. It is believed that these men breached the software of major ticket brokers to buy up thousands of tickets at face value and resell them at a huge markup. It is believed that these men “earned” $25 million. It seems the crooks are always one step ahead of the good guys.