HomeCII/OTTime is Money: How Online Game Scammers Exploit It

Time is Money: How Online Game Scammers Exploit It

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In recent years, there has been a concerning trend within the gaming community – the rise of hacking, scams, and data theft. While gamers and cybersecurity professionals may seem like unlikely allies, they both face the ever-present threat of cybercrime. But why would anyone specifically target gamers? The answer lies in the lucrative opportunities that games provide for cybercriminals.

One of the main avenues for scams within the gaming world is through microtransactions. These are in-game purchases that require players to spend real money in order to fast-track their progress or unlock additional features. Whether it’s buying better equipment or purchasing additional character skins, microtransactions have become a common feature in both multiplayer and single-player games. Unfortunately, this also opens up more opportunities for malicious actors to exploit unsuspecting players.

Scammers often target players through in-game chat or voice services, taking advantage of the interaction between gamers. These scammers can trick players into giving up their personal information, such as bank account details, or they may employ ransomware, viruses, and trojans to steal money directly from players. One of the most valuable commodities within the gaming world is virtual currency, rare items, and skins, which can be sold for large sums of real-world money. Scammers can easily create accounts, use stolen credit card details to purchase these items, and then sell the fully stocked account for a profit.

While game developers do implement security measures to protect user accounts, account hijacks still occur. This is particularly problematic because players often accumulate in-game wealth and licenses, as well as provide personal information such as phone numbers and addresses. All it takes is one weak password for an account to fall into the wrong hands. Many players still use easily guessable passwords instead of opting for stronger ones or using secure password managers. Additionally, some game services lack additional authentication methods, making it easier for hackers to breach accounts.

Another type of scam that affects both gamers and merchants is Friendly Fraud. This occurs when players dispute charges on their credit cards for in-app purchases made by themselves or their children. Sometimes this is unintentional, but intentional Friendly Fraud also exists, with gamers or fraudulent individuals purchasing game content and then disputing the charges to obtain a refund. This behavior can result in significant losses for eCommerce merchants.

Malicious actors also exploit gamers through fake promotions and giveaways. They lure players with the promise of free exclusive items or in-game currency, leading them to fake login websites where their personal information can be extracted. In-game trading can also be risky, as transactions that occur outside the game’s limits, such as through PayPal, can be disputed by fraudsters, leaving players without their desired items and suffering monetary losses.

Despite these risks, there are steps that gamers can take to protect themselves. Using a strong password is essential, as it can deter hackers from easily accessing accounts. Multi-factor authentication, such as using a one-time code generating app, adds an extra layer of security. It is also advisable to make purchases within the game’s own store or through official resellers to avoid providing financial details to scammers. Players should never provide their account information to others, as game admins or developers will never ask for credit card numbers or bank details within an online game.

It is important for gamers to remain vigilant and be aware of the risks that exist in the gaming world. While game developers and cybersecurity professionals work to combat cybercrime, players must take precautions to safeguard their accounts and personal information. By staying informed and following security guidelines, gamers can continue to enjoy the virtual worlds they love without falling victim to scams and data theft.

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