Role Played by Custom-Made Gaming Apps
The Philippines’ National Police Anti-Cybercrime Group (PNP ACG) warns crypto enthusiasts about the risks associated with play-to-earn (P2E) games. These games are increasingly being used by cybercriminals to steal millions of dollars worth of crypto assets. Here are the key points:
- Criminals create custom-made gaming apps to lure victims with promises of huge financial rewards.
- Victims are introduced to an online or mobile game where they can earn cryptocurrency rewards.
- The mobile games display fake rewards to entice victims.
- Once victims stop depositing crypto assets, the cybercriminals siphon the funds from their compromised wallets.
- Cybercriminals take advantage of the newness and lack of regulation in the cryptocurrency space.
Advantages of Crypto Gaming Over Traditional Games
The police bulletin recognizes the benefits of crypto gaming but cautions players about potential risks. Here are the key points:
- Crypto gaming, exemplified by Axie Infinity, offers various ways for players to earn money.
- However, players may need to invest a significant amount to participate.
- Players can lose their digital assets if they send them to a wallet that doesn’t support the asset.
- To avoid scams, players should conduct their own research and be cautious of fake individuals and deceptive links.
Hot Take:
While crypto gaming presents opportunities for financial gain, players must exercise caution and stay vigilant to protect their assets. Conduct thorough research and only trust reputable platforms to minimize the risk of falling victim to cybercriminals.
By
By
By
By
By