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FREEDOM in Second Life, curtailed again by Linden Labs
| Virtual world cracks down on cowboy banks |
| There’s a banking meltdown in Second Life, too. |
The world’s creator, Linden Lab, has announced it will regulate
the virtual banks strictly in Second Life from now on, after one
collapsed amid a credit crunch that Linden said posed “unique and
substantial risks to Second Life … likely to lead to
destabilisation of the virtual economy”. |
In-world companies such as JT Financial have been inundated by
customers wanting to know what is going on. A screenshot shows a
virtual bank branch packed with customers, as a notice on the wall
says “JTF has not crashed. The system is overloaded right now.
Please stay calm … you will all be able to withdraw your
money.” |
Some less scrupulous virtual world inhabitants built “banks” or
“ATMs” that were actually Ponzi schemes: paying high interest rates
using the money of other depositors. |
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Filed under PR, Public Relations, Virtual worlds news, aplink, secondlife, secondlife.com, viral, virtual banking, virtual banks, virtuality
Tags: scams, second life, virtual banks, virtual worlds
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