Odaily Planet Daily News The Philippine National Police Anti-Cybercrime Group (PNP ACG) scrutinized some of the models used by cryptocurrency games, warning Filipino citizens to be vigilant against various schemes used to defraud the gaming community of funds. While warning about the risks of cryptocurrency gaming schemes, Philippine police highlighted the “play-to-earn (P2E)” model used by Axie Infinity.
Considering how easily gamers can lose digital tokens and NFTs, playing crypto games may be riskier than investing in cryptocurrencies, PNP ACG said. From sending tokens to unsupported wallet addresses to market volatility and online scammers, the crypto gaming community is always under threat of losing invested funds. The warning reads: "Just because a game's underlying blockchain is secure, doesn't mean its engine or marketplace is secure."
PNP ACG advises users to conduct thorough research on the ecosystem and founders before investing in cryptocurrencies, and to exercise caution when interacting with unknown individuals and phishing links. (Cointelegraph)