Virtual Bank Woes 127
bobmorning writes "EVE Online's largest player-controlled virtual bank, Ebank, just can't seem to catch a break these days. A few months after it was revealed that the company had been defrauded of a staggering amount of virtual cash, it turns out that the institution's digital vaults are far more barren than many realized, leading to an in-game freezing of accounts for any individual or organization that happened to have invested any InterStellar Kredits (ISK) with the bank. Early this summer, it came to light that a veteran EVE player (known only as 'Ricdic') had embezzled — and then sold in the real world — over 200 billion ISK from Ebank, causing a run on the virtual financial institution. However, this was just the beginning of the problems for the player-owned bank. Recently-installed Ebank Chairman Ray McCormack admitted that the bank had been mismanaged, and rules, safeguards, and controls were not enforced. As a result, it's been revealed that Ebank is 380 billion ISK poorer thanks to a number of defaulted loans. Because of the aforementioned mismanagement, it apparently took the bank's new officers a while to figure out just how far in the red their institution is."
Re:How much? (Score:2, Informative)
Well if he sold it for the going standard rate, which is unlikely... about 4 thousand USD. Though if he bided his time he could get 6k in afew months at his own isk selling site.
Re:How much? (Score:5, Informative)
I've been playing EVE since 2004 and the current going rate for 1(one) billion ISK is around $50, although if you purchase 10 billion or more there are discounts to be had. So, all in all 200 billion ISK is around $10,000 in real US currency.
Re:Is this not fraud or some other real world crim (Score:3, Informative)
There are legit (ccp allowed) methods to turn $$$ into isk. you buy game time, eigther as code or an ingame item (plex) and sell that for isk.
Mycroft.
Re:Don't trust anyone (Score:3, Informative)