FBI officials have warned against the use of Blockchain-based Play to Earn-P2E games. According to the findings, scammers market such games to users and then use malware to seize funds from cryptocurrency wallets associated with the game. These altcoins may be at risk…
FBI warns against scams about gaming altcoins
The Federal Bureau of Investigation (FBI) has warned about play-to-win games aimed at stealing money from unsuspecting users. In a public service announcement (PSA) released on March 9, scammers reportedly contacted selected victims to gain trust. After that, they encourage victims to participate in online play-to-win games that offer rewards for their actions and deposit funds into a cryptocurrency wallet as a kind of staking mechanism.
Advertised rewards are proportional to the number of funds stored in the cryptocurrency wallet, so users are encouraged to deposit more to get more rewards.
The scammers’ method is to reward players with ever-growing fake winnings and spend money to earn more. However, when players want to withdraw these rewards, part of the targeted wallet is seized, demanding more funds to help recover the stolen crypto. If the user falls for it, his wallet is completely emptied with the last funds.
How do I stay safe?
The FBI made a number of recommendations in the report to avoid falling victim to criminals using such a scheme. FBI officials recommend keeping other funds separate from a gaming wallet that should be created for gaming purposes only. This wallet is only about games; so that it can minimize the losses of a hacking event.
Another suggestion is to ask users to check their alleged earnings using a third-party block explorer, verify that they are genuine and actually received in the cryptocurrency wallet used. The final advice advises users to control which sites have access to funds in their cryptocurrency wallets and periodically revoke these accesses to avoid loss of funds from unknown contracts.
Which play-to-win games are safe?
FBI officials did not name specific P2E games. Here are some of the most crowded games leading the blockchain gaming market by volume so far:
P2E means playing to win, and it has quickly become one of the most popular trends in NFTs and crypto. This concept means that players can earn real-world assets by playing games. cryptocoin.comWe have included the latest situation in the blockchain game industry in this article.
