A new $10 device, developed by a hacker named Samy Kamkar that can predict and store hundreds of American Express credit card numbers. Allowing the person who possesses this device to use the credit cards for almost anything.
The device names MagSpoof guesses the next credit card numbers and new expiration dates based on a canceled credit card number and when the replacement card was requested respectively. The process does not require the three or four-digit CVV numbers that are printed on the backside of the credit cards.
It is a device that can…
- Spoof any magnetic stripe or credit card entirely wirelessly, even on standard magstripe/credit card readers
- Disable chip and PIN (EMV) protection
- Switch between different credit cards
- Accurately predict the card number and expiration date.
its is important to note that this device only works on American Express credit cards.
Here’s How MagSpoof Works
The wireless function of MagSpoof works by emitting a strong “electromagnetic field” that emulates a traditional magnetic stripe card as if it is physically being swiped.
After losing an American Express cards, Kamkar noticed that the replacement card’s number appeared to have a relationship with his previous three American Express cards. Kamkar recorded all the numbers and worked out a global pattern that allowed him to accurately predict up to 20 American Express card and replacement card numbers shared with him by his friends for his research. Now, he is not selling this machine as far as we know. And does not plan on using it to do anything bad, just for research. So for now your American Express is safe to use and you can go about your business as normal.