- Filipino police warn of increased risk in crypto games, focusing on Axie Infinity’s play-to-earn model.
- According to the Filipino Anti-Cybercrime Group, playing crypto games may carry higher risks than investing in cryptocurrencies.
- Philippine ICT partners Blockchain Council to boost Web3 adoption, stressing online threat vigilance.
In a surprising twist, the allure of crypto games has been overshadowed by heightened risks, catching the attention of the vigilant Filipino Anti-Cybercrime Group (ACG). In an eye-opening revelation, the ACG cautioned that playing these games might be riskier than investing in cryptocurrencies.
According to a recent report, Philippine gamers have been alerted as the Philippine National Police Anti-Cybercrime Group (PNP ACG) delves into the underbelly of cryptocurrency gaming schemes. A stark warning has been issued, spotlighting the diverse tactics employed by nefarious actors to extort money from the vibrant gaming community.
Piercing through the haze of digital euphoria, the PNP ACG pointed an accusatory finger at the alluring play-to-earn model championed by Axie Infinity. This Pokemon-inspired metaverse game, ingeniously built upon the Ethereum blockchain, beckons players into its fold with the promise of earning as they play.
However, the stark reality, as underscored by the vigilant police department, is that entry into this crypto paradise demands a steep price. Aspiring players must invest a hefty $300 by acquiring a trio of charismatic Axie characters before the play-to-earn adventure could commence. In contrast, the traditional gaming realm maintains a more frugal average of $100 per user, a comparative bargain.
The PNP ACG’s cautionary tales delved into the labyrinthine challenges the crypto-gaming fraternity faces. A treacherous journey awaits gamers, fraught with pitfalls like sending tokens into the abyss of unsupported wallet addresses, grappling with the erratic dance of market volatility, and evading the clutches of online predators adept at ensnaring unsuspecting victims. The warning rings clear, as the police stated, “Just because a game’s underlying blockchain is secure does not mean its engine or marketplace is secure.”
The Department of Information and Communications Technology (DICT) in the Philippines has established a collaborative alliance with the Blockchain Council of the Philippines (BCP) to guide the digital journey toward enhanced security. Together, their primary goal is accelerating the widespread integration of the exciting Web3 ecosystem locally.
The Philippine National Police Anti-Cybercrime Group (PNP ACG) emphasizes the importance of thorough research, echoing the advice of cryptocurrency professionals, as comprehensive investigation acts as a shield against potential investment hazards. Exercising caution remains crucial while navigating through uncertain waters and evading phishing attempts.
