The Lawbringer: Hacking and valuing virtual currency

I can't stop talking about virtual currency! As virtual worlds and economies penetrate every aspect of our lives, we are faced with the new and daunting challenge of identifying the seedy criminal element present in every human venture. There will always be someone breaking the rules, skimming off the top, or finding a way to steal their way up the ladder. Generally, as a society, we accept this as part of the process and make our rules accordingly to punish and dissuade against future criminals and all that jazz.
This week, we read about a very interesting virtual theft over Zynga poker chips, in which a 29-year-old British IT businessman named Ashley Mitchell pleaded (or pled, depending on your colloquial acceptance) guilty to stealing $12 million worth of the virtual currency. You know what Zynga is -- it is responsible for FarmVille, Mafia Wars, Zynga Texas HoldEm Poker, and about 8,000 other social networking entities. The company is ubiquitous. It also sells an ungodly amount of virtual currency online and offline for its games. Zynga poker chips, however, cannot be bought offline.
Filed under: Analysis / Opinion, The Lawbringer





