I've been working on this for like 6 months and now it's stable enough to show off. I got a gift card on hand if someone wants to try https://cardxcoin.com
That basically looks like the wet dream for fraudsters to turn the gift cards of their victims into crypto currency, completely anonymous. Gift cards are used for all kinds of fraud like fake IRS calls, fake FBI you watched porn emails etc.
How will you stop this from happen?
Good question. I'm using wallet analysis that can determine the risk of a given wallet to be involved with fraud. For most low risk wallets and low balance gift cards, this is all that's needed. Otherwise there is kyc/identity verification which should deter fraudsters. There's been enough thought put into it that it's probably easier to sell fraudulent gift cards elsewhere.