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Scammers Continue to Wreak Havoc in MMO's
eldavojohn writes "We're all well aware of the scams that sometimes happen in online games like Eve Online. But despite this looking primarily like a problem with Eve Online, the MIT Technology Review brings us stories from Second Life and the very real $700,000 (USD) in Linden Dollars that has recently disappeared in what is appearing to be a classic ponzi scheme by a company named Ginko Banking. Unbelievably high interest rates coupled with some shady withdrawal limits leads to classic epic losses to investors. Eve Online was merely virtual currency but Second Life has a real monetary value associated with Linden Dollars & therefore is certain to see more and more scams pop up like this. How can Linden Labs set up a safety net to catch things like this?"
That'd be nice and all... But in 1st life, people are losing homes for being caught up in schemes, not being "smart" about their purchases, etc. and real action is being taken to punish those who defrauded such "rubes". For some reason or other the Gov't and people in general frown on swindling.
They are losing homes that they can't afford, never could afford, and never should have bought.
Now, losing a home is sad and all, and the lenders are scum, villains and crooks who should be punished, but I find it hard to see folks who never could afford the home that they bought as victims.
More like co-conspirators.
Ginko's exchange rates only made sense if inflation was high too. The economy was being manipulated and Linden Labs was "printing" more money. But given Wikipedia's description of what happened, it appears exactly like what happened in the US not too long ago. The "government" changed a law about the legality of internet gambling, and this instantly caused the deaths of several companies. It's actually kind of interesting to watch how a virtual currency behaves and how to create an economic system even within a game like this.
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>I would argue that the entire point of civilization is to protect the weak and/or stupid.
I totally disagree with that viewpoint. Do you have any reference material (books, essays) to support that viewpoint?
I have no reference material to support my viewpoint, but having read your comment i am inclined to research this.
My viewpoint is that civilization is a side effect of selfishness. I want to be fitter, stronger, faster. I can be more successful if i cooperate with other people. I can be even more successful if i can control other people, and have them follow my rules.
Civilization has a track record of treating the weak and the poor very badly.
If you are infact correct that civilization was 'designed' for the explicit 'purpose' of protecting the weak and the dumb, i would love to see the proof.
Sounds like this person is trying to manipulate Auctioneer averages.
While I agree that the laws should continue to protect against fraud, there's a limit to what they can do. Example: Recently I saw a special on MSNBC about online fraud. The guy traced online scams from the victims to those in america who were helping the scammers, to the scammer himself in a country bordering nigeria. The scammer posed as some hot latina girl who looked to be in her upper twenties. He convinced this middle aged man to pick up, and re ship packages with his own time and money. This was all done with careful social engineering by playing on his emotions- he thought they were dating and she seemed vulnerable and in need of his help. When the guy was confronted, he was flabbergasted that not only was she not real but he was actively helping to steal from people. Apparently he had sent her many thousands of dollars to help with fake hospital bills on top of the shipping costs for packages.
The guy hadn't even tried to do a basic reality check. There are a lot of people in the US who would be caught up in a scheme like that if the situation were right. Is he culpable for taking a package shipped to him and shipping it out again on his own dime, trying to help someone? Now we're sort of full circle. Do we nail this guy for what is essentially a crime of being ignorant or trusting? Do we try to educate him? His face just went blank when he learned the truth. He didn't know all this internet stuff. Just that wendy lied about loving him. How could we best prevent him from falling for a similar scam in the future?
In the end, there has to be some effort to be informed and realistic about online transactions on a personal level. Those that can't be, should in all seriousness avoid online transactions. This is no different that investing. If you're uneducated, you really shouldn't go investing large amounts of money.
There will always be scams that slip through the cracks. There will always be people who fall for them.
I'll believe in corporations having personhood when Texas executes one... - advocate_one
They rarely do. I live in a relatively poor country, and all the time I see tourists come here and "fall in love" with a local girl. They buy furniture, rent an apartment for her, and when they go back home they keep sending money. In the mean time her real boyfriend has moved into the apartment with her and sleeping in the bed that he bought.
Once just by chance I happened to be talking to one of these tourist "boyfriends," and told him what was happening. What a mistake. Not only did he not believe me, he actually threatened me for "telling these vicious lies."
When the illusion is sufficiently compelling the desire to believe trumps rational thought.