Video Game Hacking Rises During the Pandemic

Online Gaming Traffic Surges

Millions of people around the world have turned to video games for entertainment during the pandemic. From the first to second quarter of the year, online gaming traffic climbed by 30% as lockdowns were implemented across the globe.

Along with this gaming surge has come a spike in video game accounts getting hacked. 31% of roughly 2 billion video game login attempts in April, May, and June were fraudulent. This marks an 11% increase from the same period last year, and impacts both companies and consumers alike.

The Impact of Video Game Hacks

These video game hacks can cause emotional and financial strain for players. Many gamers spend significant time and money building up inventories in their favorite games, and losing digital goods and skills can be devastating. A major hack, which causes a financial loss, can lead to reputational damage for the brand and potentially be hard to contain as players talk and share stories through various chat platforms. Additionally, if hackers gain access to video game passwords that players use across multiple sites, they can be vulnerable to other attacks.

A recent report estimated that underground marketplaces fueled by information stolen from video game accounts do roughly $1 billion in business each year. $700 million of that comes from four games: Fortnite, Minecraft, Roblox, and Runescape. These games are popular among younger players, who are sometimes more susceptible to hacks.

Staying Protected

For those looking to protect themselves from video game hackers, a few precautions can go a long way. Setting up two-factor authentication provides a helpful extra layer of security. Using strong passwords and changing them frequently is also a good way to stop hacks.

Keeping account details private and always checking URLs carefully before logging into games can also prevent hacks. For parents looking to protect their children from hacks, setting up parental controls might be a good place to start.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS091003