Virtual world bank scam pays for real world debts
The virtual CEO of a virtual bank in virtual world game, Eve Online, has embezzled virtual currency to pay some very real bills. But he only broke the rules by attempting to make a real world profit from the scam.
Eve Online is a virtual world along the lines of Second Life or World of Warcraft, the twist being that it’s set in a futuristic space world. It includes features such as running businesses and trading, using a virtual currency known as interstellar kredits.
A 27 year-old Australian player identified by Reuters only as Richard controlled a character named Ricdic, who was head of Ebank, the largest financial institution in the game. In controlling a character in this role, Richard was among the most trusted players in the game.
While things were just peachy for Ricdic, who controlled approximately $2.3 trillion in deposits, Richard wasn’t so financially secure: he says he faced medical bills for his child and needed cash for a deposit on a house.
He was therefore tempted by an unofficial Web site (in the real world) which offered to pay cash in return for Eve Online kredits, the idea being to sell them on to players who wanted to increase their status in the game without putting in as much effort playing it. Ricdic stole 200 million kredits, which Richard then exchanged for just over $5,000 in U.S. dollars.
Ironically Richard didn’t break any rules by carrying out the in-game theft as crime is part of the game. However, players are only allowed to exchange cash for game credits and not vice versa. For this reason he has now been banned from the game.
While there’s no doubt some real world disappointment among players who trusted both Richard and Ricdic to behave honorably, the most serious consequences have been within the game. In a response eerily similar to real world events – particularly given that the game’s creators are based in financially troubled Iceland – game characters embarked on a run on the bank. It’s virtual management has now assured players that despite the embezzlement of around 8.6 percent of its wealth, it remains in robust financial shape.
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