The chairman of the virtual bank in EVE Online, a space-trading/piracy game, absconded with billions of virtual credits, swapping them for $5,000 in cash to make a house payment. The embezzlement caused a run on the bank and has rocked the economy of EVE.
The run on the bank has come to about 600 billion ISK, which has been withdrawn. However, we have a very big group of excellent supporters, who have deposited about 105 billion ISK sitting in Sweep to keep us liquid. We are extremely grateful for this. Currently the run seems to be mostly over with only a slightly higher withdrawal rate still, than deposit rate. That's to be expected, and in-line with EBANK's strategy to shrink to a more managable level.
Billions stolen in online robbery
EBANK has always been extremely sound, due to our massive reserves. Our checks and balances have proven themselves to work as a mitigation device and by having the reserves spread out over several directors, the embezzlement was kept to a minimum. However, the run on the bank had the potential to do great damage to EBANK as people frantically made withdrawals to ensure they would not be caught if the bank ran short.
We have also had several offers from very large entities, regarding big loans, should we need to cover any insolvency. Frankly, this has yet to be needed. But we are grateful for the support.
New perspective on EVE Online's latest bank embezzlement
I don’t play a lot of games, but my friend Craig loaned me his BioShock discs for Mac couple of years ago and I enjoyed it. The super creepy dystopian universe is a critique of Ayn Rand’s simplistic political and economic ideas based on the concept of “rational self-interest.” Amazon has a sale on all […]
Making English versions of foreign-language games is a complex process requiring cultural sensitivity and originality. In contrast to literary translation, it involves audio, visual arts, and careful technical edits as well as the words. When a localizer working on Japanese title Akiba Beat was displeased by one edit, he cried foul and demanded to be […]
Nintendo programmer Masahiro Sakura coded the Game Boy classic Kirby’s Dream Land on a cartridge-based Famicom console and Disk System that lacked a hardware keyboard. According to a recent presentation given by Sakura, “values had to be input using a trackball and an on-screen keyboard.” Sakura, who was 20-years-old at the time, said he just […]
Bamboo has lots of uses beyond just being panda food. Things like bikes, roads, scaffolding, and musical instruments are made from the fast-growing grass. But unless you are participating in a tropical-themed LARP, you probably wouldn’t want a shirt made from bamboo stalks. So why do bamboo bed sheets make any sense? Because yarn extracted from […]
If you want to work in tech, but don’t have any desire to code web apps to help businesses sell things to other business, you might want to consider a career in cybersecurity. Judging from the apparent complete infiltration of Russian hackers in American cyberspace, it seems fair to speculate that there’s a major shortage of […]
All moms are different. But all moms like getting flowers on Mother’s Day, and that’s a fact (not, however a fact we can document in any fashion.) Instead of getting chewed out for forgetting to call her on the second Sunday of May, you can take care of it ahead of time with Teleflora’s flower […]