Cybercrime in Gaming: A Billion-dollar Business

CryptoMode Mobile Gaming

Cybercrime has been, and always will be, a very serious problem. Even the gaming industry can’t escape this fate. Booming revenue across the entire industry is bound to attract some unwanted attention. 

The Gaming Industry is an Attractive Target

  • Looking at the statistics, the gaming industry generates $120 billion in yearly revenue.
  • Such a high figure will attract a lot of cybercriminals looking to score a quick buck.
  • Making matters worse is how difficult it can be to trace crimes regarding video games.
  • A recent report shows how trading of stolen gaming accounts creates up to $1 billion in annual revenue. 
  • Nearly $700 million of the earnings come from the top four games: Fortnite, Minecraft, Roblox, and Runescape.
  • The popularity of gaming “hackers” is rising exponentially, allowing them to create corporate structures to advertise services.
  • Most of the shady business deals are run through cloud services and e-commerce platforms.
  • Of the stolen in-game items, cosmetics and currencies are the main targets.
  • A lot of the cosmetics or in-game currencies are sold at much lower prices than their market value, ensuring stolen goods can be fenced pretty quickly. 
  • Most of the hacking attempts related to gaming are not targeted at the game itself.
  • Instead, criminals will use exploits of malicious code to go after Discord servers, forums, and even the creators of games such as Nintendo.
  • There is no indication as to how the gaming industry will address these threats to protect their users. 

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