The FBI has warned consumers about a recently detected fake “play to win” online and mobile game that tricks victims into depositing cryptocurrency and then steals it.
In a public service announcement (opens in a new tab), the FBI said the elaborate scheme has scammers first contact the potential victim and try to establish a relationship with them.
After a bit of back and forth, the scammers would invite the victim to play an online or mobile game, in which players supposedly earn cryptocurrency rewards in exchange for certain activities, "such as growing 'crops' on a bustling farm." "said the FBI said.
Deposit cryptos
But entering the "game" is not free: victims must first create a cryptocurrency wallet and deposit money, and that's where the real scam begins. The scammers would also later tell the victims that the more funds they deposit, the higher the profits.
However, as soon as the victim stops depositing additional funds, the scammers empty the wallet and are never seen or heard from again.
In some cases, the FBI said, scammers will tell victims they can withdraw deposited cryptocurrency, if they pay additional fees or taxes. However, this is all just part of the scam, and victims end up losing even those extra deposits.
Play-to-earn is a growing gaming model that shows great promise in democratizing revenue through gaming. There are several games, all built on blockchain technology, that allow players to earn large sums, often by generating valuable in-game assets, which can then be sold or rented.
Until now, the only way to make money from the game has been to stream it or become a professional player, two major projects that require expensive equipment and countless hours spent in-game.
Via: BleepingComputer (Opens in a new tab)