![]() Mike Novogratz Warns of Credit Crunch in US and Globally - Expects Fed to Cut Rates ‘Sooner Than We Think’Įconomist Peter Schiff Expects Worse Financial Crisis Than 2008 - Says ‘Future Rate Hikes Are Now Pointless’īalaji Srinivasan Says Hyperinflation Happening Now - Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Daysīlackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes However, when they desire to withdraw these rewards, criminals would drain their wallets of the deposited cryptocurrency, asking for more funds to help recover the stolen crypto, as a last theft against the targeted victim. ![]() The games show fake rewards growing in their cryptocurrency wallet, and spend more funds to keep growing their rewards. ![]() The rewards advertised are proportional to the number of funds stored in the cryptocurrency wallet, so users are incentivized to put in more funds to get more rewards. After this, they lure them to participate in online play-to-earn games, that offer rewards for their actions, and to put funds in a cryptocurrency wallet as a form of staking mechanism. On March 9, the institution issued a PSA on this, explaining how criminals are luring users to put funds behind play-to-earn games.Īccording to the PSA, criminals establish a relationship with the selected victims, in order to gain their trust. The Federal Bureau of Investigation (FBI) is warning about the introduction of play-to-earn games in schemes destined to steal funds from unsuspecting users. FBI Issues PSA on Play to Earn Games Crypto Scheme ![]() Criminals are introducing victims to this kind of game and then use malware to extract the funds from cryptocurrency wallets linked to the game, according to the bureau. The FBI has issued a public service announcement (PSA) warning on the utilization of play-to-earn games as part of a scheme to defraud users of funds stored in the form of cryptocurrency.
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