The Philippine Police Raises Concerns about Blockchain Gaming
The Philippine National Police Anti-Cybercrime Group (PNP ACG) has issued a warning about the potential risks associated with blockchain gaming. According to the PNP ACG, citizens should be cautious of gaming models that require them to purchase non-fungible tokens (NFTs) as they may be targeted by cybercriminals seeking to steal their cryptocurrency.
Key Points:
- Cybercriminals are using fake rewards in “play-to-earn” mobile and online games to steal cryptocurrency.
- Axie Infinity and other companies utilize the play-to-earn model, where users earn NFTs as they progress.
- The PNP ACG warns that just because a game’s underlying blockchain is secure, it doesn’t mean the engine or marketplace is secure.
- Scammers may offer rewards that are disproportionate to investments or build fake relationships to extort users.
- The PNP ACG recommends conducting thorough research before investing in digital assets and using legitimate exchanges and wallets.
Government Collaboration and Future Adoption
The Department of Information and Communications Technology (DICT) in the Philippines has partnered with the Blockchain Council of the Philippines (BCP) to promote blockchain technology adoption. The DICT director, Emmy Lou Versoza-Delfin, believes that widespread adoption of blockchain will bring about positive social changes.
Hot Take
While blockchain gaming offers exciting opportunities for players to earn rewards, it is crucial for users to exercise caution and be aware of potential scams. Conducting thorough research and using legitimate platforms are essential steps to protect oneself from bad actors in the crypto gaming space.
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