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Why do criminals use Fortnite to clean up illegal funds?

  fortnite bitcoin
Money launderers are increasingly using virtual currency to launder their illegal assets in games such as Fortnite. | Source: Shutterstock

From CCN.com: With well over 200 million users around the world, few video games have such a large following as Fortnite. The Freemium game is so popular that developer Epic Games raised $ 3 billion in 201

8. However, according to an independent report, Epic Games is not the only company that gets rich on Fortnite. V-Bucks, the game's official game currency, is increasingly being used as a money laundering tool on the dark internet.

How Fortnite V-Bucks Wash Money

According to researchers, hackers use stolen credit cards to buy V-Bucks. From there, the purchased V-Bucks are resold to the players at a discount rate to "clean up" the currency. The cyber security firm Sixgill first discovered these activities. The company's agents reportedly uncovered the operations by pretending to be potential customers and engaging in transactions with some of the criminals.

Benjamin Preminger, chief intelligence analyst at Sixgill, said:

Criminals carry out card fraud and receive money and out of the Fortnite system with relative impunity.

It is not clear how much money the fraudsters could make with these operations. However, Sixgill also noted that the amount of money flowing around Fortnite had grown exponentially as the game became more popular.

A Practical Cheat for the Dark Net

Fighting fraud makes a lot of sense. Since its release, the online Battle Royale game has been a huge success, attracting hundreds of millions of players. Most of these players are children and adolescents who are impressive and often easily betrayed.

The dark web, the secluded part of the Internet that can only be accessed through specialized software, is one of the many criminal online activities to be conducted. While the money laundering carried out by Fortnite's V-Bucks can also be found on other aspects of the Internet (such as social media platforms), these activities are reportedly carried out on a much larger scale in the dark web.

Are V-Bucks the New Bitcoin?

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Bitcoin critics often attack their role in global money laundering and drug trafficking. | Source: Shutterstock

While Bitcoin has increasingly been used as a means of exchange and value in some areas, it has also angered as a supposed tool for criminal activity. From January 2009 to September 2018, criminals have laundered more than $ 2.5 billion worth of Bitcoin, according to cryptanalyst CipherTrace.

Epic Games, the developer of Fortnite, intends to eradicate the V-Buck wash before this scale is reached. Speaking to the Hollywood Reporter, a company spokesperson said:

Epic Games is taking these issues seriously, as chargebacks and fraud are putting our players and businesses at risk. As always, we encourage players to protect their accounts by enabling two-factor authentication, not re-using passwords, using strong passwords, and sharing account information with others.

The lawsuit & # 39; Milly Rock & # 39;

This New Procedure The report is only the latest in a growing list of battles for Fortnite and its producers. In addition to the allegations of money laundering, Epic Games faces a lawsuit by rapper 2 Milly over embezzling the developers of the Milly Rock dance. The lawsuit was filed last month. The dance, featured in a 2014 video for "Milly Rock" (a song bearing the same name as the dance), was added by Epic Games to Fortnite's fifth season, albeit under the nickname "Swipe It."

Selected image from Shutterstock

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