Fraud and malware activities gained momentum with the introduction of the concept of crypto money. Announcing that fraudulent activities have increased, the FBI (Federal Bureau of Investigation) warned about play to earn (playing to earn crypto money) games.
FBI: “Play to earn games pose a risk of fraud.”
Blockchain technology plays a major role in the creation of new revenue models in many different fields, especially in the financial sector. Fintech startups are developing games that reward people who complete certain tasks thanks to blockchain technology.
The FBI announced that scammers persuaded users to play “fake” games by contacting them directly. “Scammers are including players in a game that allegedly earns cryptocurrency rewards in exchange for certain activities, such as growing crops on an animated farm. In order to log in to this game and earn money, users are asked to transfer to certain cryptocurrency wallets.” made statements.
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Authorities explained that scammers increased credibility by transferring low amounts of cryptocurrencies to users who completed certain stages. Convincing that money should be deposited into the system after a certain level, the fraudsters managed to get crypto money from hundreds of thousands of people thanks to this method.
Stating that the Play to earn game model is promising, experts underlined that there are trust problems against the crypto money market due to such fraudulent activities. It is worth noting that there are reliable platforms built on the Play to earn model.