Fraudsters using CSGO to money launder shut down by Valve

Criminals laundered money through the popular video game Counter-Strike: Global Offensive (CS: GO), developer Valve says.

In a report, the game was attacked by worldwide Internet criminals who tried to “liquidate their profits”

Many fraudsters have previously match-fixed their CSGO betting games in order to make large amounts of fraudulent profit.

The thieves used the loot collecting mechanisms of the game, which allows players to exchange their keys and receive real cash prizes.

Valve said that the game has been patched to stop keys being exchanged online.

Video game fraud-sourced CS:GO pits two teams on a small screen. Their task is to try and eliminate one another and achieve other goals, for example, protecting hostages or bombing.

Valve figures indicate that the game last month had over 18 million unique players.

Playing CS: GO, gamers might get loot boxes with a cosmetic enhancement for avatars or weapons. A button to purchase from Valve was the only way to open the loot boxes. Boxes and keys on the Steam market could be exchanged for true money.

Until recently, Valve said that keys were usually traded among real players. But it changed now as a game was targeted by fraudsters.

“At this point, nearly all key purchases that end up being traded or sold on the marketplace are believed to be fraud-sourced,” she said.

There’s no indication how much cash was laundered through the Steam store, but the online shop sold hundreds of thousands of boxes and keys. For a couple of dollars most keys and boxes sell.

Players can still buy keys to unlock gaming crates, Valve said. After the latest game update, keys are attached to a player’s account so that they can not be transferred.
The government admitted that the move would affect some legal competitors, but said that it first needed to counter corruption.

Fraudsters the migrate to other games like Team Fortress 2, one expert told Craig Pearson Writing at the news website, “consistent cost” He added,’ this would be used by merchants, both normal and unusual, as a common currency.’

Fraudsters in Valve games like Team Fortress 2 and Dota 2, he said, are supposed to try trading.

Valve took action on various occasions to restrict the CS: GO trading system’s misuse and violence.

In the past, it has been a small market when it turns out that certain merchants genuinely used products as playing chips. It has also stopped the release of loot boxes to players in the Netherlands and Belgium after rulings that breach national betting laws.