BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Epic Games CEO Tim Sweeney on Fortnite Cryptocurrency Scams

Alexa by Alexa
June 9, 2022
in Crypto, Gaming
Reading Time: 2 mins read
A A
Epic Games CEO Tim Sweeney on Fortnite Cryptocurrency Scams
1
SHARES
13
VIEWS
Share on TwitterShare on Reddit

CEO of Epic Games Tim Sweeney tweeted his concerns on a cryptocurrency scam that revolves around his smash hit battle royale game, Fortnite. 

You might also like

Crypto Exchange GMX Proposes Deployment to Coinbase Blockchain

Bitcoin Price Prediction: BTC Back Below $28K As US Banking Crisis Escalates

Crypto Flourishes in Vietnam with 16.6 million Holders

He lashed out at the crypto platforms that “support” the listing of the unlicensed “Fortnite tokens.” While he shows his openness towards metaverse gaming, he also cares for his player base, who may become victims of these fake Fortnite cryptocurrencies.

Tim Sweeney Addresses Confusion

Because these trading platforms allow traders to transact virtually any cryptocurrency, contract addresses need to be confirmed manually.

Sweeney talked about the Fortnite Token (FNT), which showed up on legitimate platforms including SushiSwap, PancakeSwap, and CronaSwap. He said that the FNT is not a real cryptocurrency and has no value. Furthermore, the Fortnite game itself has no connection to any blockchain, web3, or NFT technology.

Sweeney warned people to be aware of scammers who might try to take advantage of the game’s popularity. In addition, he advised everyone in the crypto market to only buy cryptocurrencies from licensed exchanges.

“We are investigating services that appear to be offering unlicensed, unauthorized trading of in-game items or currencies. These services violate our terms of service and we are taking appropriate action against them,” Sweeney said.

He also added, “You can’t use the Fortnite name and images without permission to market an unrelated product,” which is evident for any product selling. 

Still, the rules of cryptocurrency get bent a lot by Ponzi schemers and scammers such as those who established gimmick coins like Fortnite Token, Squid Game Token and Waifucoin.

Sweeney concluded his thread by saying that Epic Games is “committed to investigating and taking action against scam artists” who try to take advantage of their games and their players.

Fortnite and Its Never-Ending Fight against Scammers

This isn’t the first time scammers have used Fortnite as bait. In October 2021, some news stories reported that criminals were informing Fortnite gamers that they could trade their non-crypto V-Bucks for dollars by using an unlicensed “Fortnite Coin.”

The scammers then created a fake website that looked like an official Fortnite page. The site claimed that the registered player could use the new cryptocurrency to buy in-game items and even offered “free” V-Bucks for anyone who signed up.

Fortunately, no one fell for the scam – but it just shows that everyone needs to be careful when it comes to any offers involving cryptocurrency, especially if they seem too good to be true.

Tags: Epic GamesFortniteTim Sweeney
TweetShareShare

Recommended For You

Crypto Exchange GMX Proposes Deployment to Coinbase Blockchain

by BlockNews Team
March 22, 2023
0
gmx exchange

GMX, a decentralized derivatives exchange, has received community approval to deploy the protocol on Coinbase's (COIN) recently announced layer2 blockchain, Base. GMX community members have expressed support for...

Read more

Bitcoin Price Prediction: BTC Back Below $28K As US Banking Crisis Escalates

by BlockNews Team
March 22, 2023
0
bitcoin price

Bitcoin price has been on a notable uptrend, rising 43% in a span of two weeks. The US banking crisis worsens and could claim First Republic Bank as...

Read more

Crypto Flourishes in Vietnam with 16.6 million Holders

by BlockNews Team
March 22, 2023
0
vietnam crypto

Vietnam has emerged as a key player in the international cryptocurrency market, with about 17% of its population possessing digital currencies. Bitcoin is the most popular digital currency,...

Read more

Ripple-SEC Case: XRP Price Turns Bullish As Coinbase Hints At Relisting

by BlockNews Team
March 22, 2023
0
xrp

Coinbase could relist the XRP token if Ripple wins the ongoing lawsuit against the SEC. The exchange will initiate the relisting process immediately after the court pronounces itself...

Read more

Solana’s Top DEX Orca Restricts Access For American Users

by BlockNews Team
March 22, 2023
0
orca.so

US-based users will be banned from trading on Orca’s web interface beginning March 31st. Orca said the ban exempts those who trade directly using smart contracts and their...

Read more
Next Post
Terra NFTs: Market Showed High Activity after the LUNA and UST Crash

Terra NFTs: Market Showed High Activity after the LUNA and UST Crash

Related News

Don Kwon

South Korea Issues Arrest Warrant For Terra’s Founder Don Kwon

September 15, 2022
Investors face $1 Billion losses in a year

Investors face $1 Billion losses in a year

June 28, 2022
coinbase nyc

Coinbase Reaches $100 Million Settlement With New York Regulators

January 9, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Crypto Exchange GMX Proposes Deployment to Coinbase Blockchain March 22, 2023
  • Bitcoin Price Prediction: BTC Back Below $28K As US Banking Crisis Escalates March 22, 2023
  • Crypto Flourishes in Vietnam with 16.6 million Holders March 22, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?