Category Archives: Second Life

Virtual Ponzi

From the WSJ comes this tale of a Second Life Ponzi scheme:

Last summer, several hundred thousand very real dollars disappeared into a Ponzi scheme in the popular virtual world, “Second Life.” The owner of the “bank” behind the scheme fled, and hasn’t been seen since last October. There were no investigations, lawsuits or arrests.

Second Life users had invested “Linden Dollars” in the scheme, hoping to make money. Linden Dollars are purchased with real cash, and can be converted to real money on an exchange run by Linden Lab, the company behind Second Life.

After the debacle, the angry mob surrounding the virtual bank’s ATMs appeared to consist mainly of hookers, mafia enforcers, skateboard punks and theme-park mascots. Though these computer-generated “avatars” represented real people in front of computer screens, some of whom lost real money, you’re forgiven for not caring. It was as bizarre as it was tragic.

Where the pioneers first tread the scam artists will surely follow.

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Second Life Lawsuit

There is this story about a lawsuite involving a company not too far from where I live. The company sells what is billed as a “Sex Toy” for Second Life. I am not going to speculate on how that’s even possible in a computer simulation. But apparently not only is it possible, but popular enough that he is accusing anothe Second Life company of ripping of his code. Thus the lawsuit.

There are a lot of folks out there that apparently need a first life.