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NEWS ABOUT: virtual investment bank

More About:  Second Life • bank fraud • MMRPG • Linden lab • Linden dollars • US economy • bank • casino • gambling • FBI • Internet

Even the Real Economy Isn't This Bad

'Second Life' bank shutdown causes all-too-real investor run

(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... More »

Virtual Bank Collapse Causes Real Pain

$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... More »

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