Gaming Fraud (Threats of Buying Virtual Currency from Third-Party sites)

Article written by: Koshin Gokhale

Article designed by: Koshin Gokhale & Palak Tiwari

You’re just one skin away from winning. The rush of adrenaline makes you open a browser to find cheaper in-game currency before you finalize the purchase. What could go wrong?

Plenty.

The decision to purchase V-Bucks, Robux or coins from third-party sellers for game advancement appears harmless at first, but is actually the greatest risk of identity theft and financial loss.

What is Gaming Fraud?

Scammers use online games together with gaming-related purchases to trick users into revealing sensitive information or paying money. Virtual currency sales to unauthorized third-party websites represent a widespread type of gaming fraud.

These websites present deep price reductions for in-game items and currency which makes players, especially teenagers, want to avoid official platforms. The platforms fail to disclose important information to users about their operations.

These websites attempt to steal both your personal details and financial information.

Your account faces potential risks because the currency was obtained through illegal matters. Using these platforms against the game’s Terms of Service may result in account bans (Norton.com).

According to the Better Business Bureau, it reports that gamers lost more $100 million to fraud during 2022 with teenagers being the primary victims (BBB.org).

How Scammer Trick You

Third-party sellers use various tactics through different platforms such as:

1. Social media ads- Fake promotions on Tiktok, Instagram, or Youtube offering “limited-time discounts.”

2. Fake login pages - Websites that mimic the official game page to steal your login credentials. 

Why Teens are Vulnerable

Let’s be real– most gamers don’t consider cybersecurity during their gameplay activities of rank progression and achievement unlocking. The following factors make teenagers more susceptible to fraud: 

1. They don’t have access to credit cards and therefore must find alternative cheaper payment methods.

2. They believe in the recommendations of their peers and the viral content they see on social media.

3. They usually don’t read Terms of Service or payment warnings.

Lastly, the consequences can be long-lasting. A single breach can result in your personal data being stolen or your parents being charged hundreds of dollars. The worst possible outcome would be losing access to an account which you have spent years developing (BBB.org).

Final Thoughts: Stay Safe, Stay Smart

Playing video games online should be fun. But if you use shortcuts at risk of your safety, it’s never worth the risk. The next time you think about buying cheaper coins or skins from a shady, third-party website, just remember: If it seems too good to be true, it most likely is (Norton.com).

Works Cited

Boost revenue with virtual currency. Xsolla. (n.d.). https://xsolla.com/blog/boost-revenue-with-virtual-currency 

Officer, E. K. E., & Kaspersky, E. (n.d.). Cybersecurity that’s always a step ahead. Kaspersky. https://usa.kaspersky.com/ 

Zerofox finds Fortnite v-Buck scams running rampant online. ZeroFox. (n.d.). https://www.zerofox.com/blog/zerofox-finds-fortnite-scams/