« Grinch bots » are designed to purchase large amounts of hot ticket items ahead of the holidays and resell them at much higher prices.
SAN FRANCISCO (KGO) — Tech experts say this holiday season, online shoppers are up against so-called « Grinch bots. » Described as automated computer programs created by people, the technology is designed to purchase large amounts of hot ticket items and resell them at much higher prices. The gift-giving season is wrapped up in what some are referring to as « Cyber Grinch Greed. »Programs are purchasing popular toys and other products online, only to resell them at higher prices for profit. »These bots are so much faster than you and I are, » Ian Sherr, Editor at Large for CNET told ABC7 News. « And so if you’ve had this experience, if you’re after something that’s very popular and you’ve seen it in stock, you may have tried- you’ve gotten that into your cart, and then suddenly, it’s snatched away from you at the last minute. That is all these bots working. »Sherr explained that the bot technology makes it so these transactions take no time at all.
