How Two People Scammed Thousands on EVE Online

If you are a frequent player on the popular space MMO, EVE Online, you’ve probably heard about Phaser Inc. and how it scammed thousands of players out of over a trillion ISK (EVE Online currency). How did it do this, and why did so many people fall for it? The answer is very simple: the people behind Phaser Inc. created what appeared to be a legitimate investment that a few people bought into. After that, it only required a handful of emails and time for the word-of-mouth advertising to take hold.

The premise of the scam was simple. If you invested money in Phaser Inc., the in-game corporation would guarantee a return on the investment of 5%, every week. After 20 weeks, you would essentially double your investment. So many people invested in Phaser Inc. (over four thousand), that its available funds grew to exceed a trillion units of EVE Online currency in no time. At any point, investors were able to withdraw their investments and walk away with their acquired profit in-hand, but few saw the warning signs that Phaser Inc. was about to pull the plug and walk away with everyone’s money before it was too late.

How Two People Scammed Thousands on EVE OnlineOn August 12, 2011, Phaser Inc. updated its official Web site with a long-winded explanation of exactly how its scam went down. After 4,252 individuals and corporations signed up and invested into its virtual service, 1,831,672,334,372.65 total ISK was invested, and eight months of total uptime, the people behind Phaser Inc. (Mordor and Eddie) walked away. To put it one way, they made more EVE Online money in eight months than a single player could make grinding away at minerals and killing monsters could ever make. Translating virtual money to the US dollar, they walked away with roughly US $64,000.

This isn’t the first major scam to cheat players out of their hard-earned virtual currency. EVE Online has long been known as something of a virtual wild west, where players are free to scam and attack one another. There is no truly safe harbor for players, and the answer from the game’s founding company, CCP, has always been that this is exactly how the game was designed. Corporations have been infiltrated and turned upside down by spies from enemy organizations time and time again, and one rule seems to stand above all others: EVE is real.

9 comments On How Two People Scammed Thousands on EVE Online

  • One thing I LOVE about EvE is the sandbox effect. Sandbox, for those that don’t know the term, is in essence – people in the game, make or break the game. EvE is very fluid on game play. You can lie, cheat or steal your way to $$$ and power. You can work your way by mining, ratting, doing missions or… attacking other players and stealing the stuff that didn’t get blown up 😀

  • One thing I LOVE about EvE is the sandbox effect. Sandbox, for those that don’t know the term, is in essence – people in the game, make or break the game. EvE is very fluid on game play. You can lie, cheat or steal your way to $$$ and power. You can work your way by mining, ratting, doing missions or… attacking other players and stealing the stuff that didn’t get blown up 😀

  • I just p a i d $21.87 for an i P a d 2-64GB and my boyfriend loves his Panasonîc Lumîx GF 1 Camera that we got for $38.76 there arriving tomorrow by UPS.I will never pay such expensive retail prices in stores again. Especially when I also sold a 40 inch LED TV to my boss for $657 which only cost me $62.81 to buy.
    Here is the website we use to get it all from, http://bit.ly/SHOPid

  • Eve is Real, nothink more to say 🙂

  • Eve is Real, nothink more to say 🙂

  • Eve is Real, nothink more to say 🙂

  • sounds to me like Eve is just another product to teach kids how to screw people around in real life and the creaters dont care about how this affect the real world in which they grow up in.

  • sounds to me like Eve is just another product to teach kids how to screw people around in real life and the creaters dont care about how this affect the real world in which they grow up in.

  • sounds to me like Eve is just another product to teach kids how to screw people around in real life and the creaters dont care about how this affect the real world in which they grow up in.

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