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August 28, 2008 12:24:57 PM CDT


Stories related to: virtual investment bank

Stories

2 Stories

  • January 2008
    • Even the Real Economy Isn't This Bad

      Even the Real Economy Isn't This Bad

      (Newser) - The subprime crisis has nothing on the economic implosion hitting Second Life’s virtual economy, the Wall Street Journal reports. Linden Labs has shut down most of the banks in its online game, cutting users off from real-life cash they'd invested. That caused a very real bank run, with avatars swarming to ATMs, sometimes to find them disabled. More »

      Tags

      US economy   bank fraud   Second Life   virtual investment bank

  • August 2007
    • Virtual Bank Collapse Causes Real Pain

      Virtual Bank Collapse Causes Real Pain

      (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 »

      Tags

      Internet   FBI   bank   gambling   casino   Second Life   virtual investment bank

2 Stories

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