$750K losses in Second Life prompt calls for federal regulation
(NEWSER) - Ginko Financial, an unregulated investment bank that promised returns of up to 60%, collapsed recently, costing its customers 200 million Lindens—the currency of online virtual universe Second Life, where the bank existed. While the bank, managed by a mysterious, anonymous owner, catered only to computer-generated avatars in its 3 1/2 years existence, the money it lost—about $750,000—was very real. More»