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Chinese jail for virtual currency extortionJune 9th, 2009 |
So this gang of bullies strongarms a guy in an Internet cafe in China, and extorts a bunch of virtual goods and a pile of QQ coins from him. He gets caught, and the court rules that since the virtual goods were purchased, this was a valid case of extortion. Thee of the gang got fines, and the ringleader — three years in jail!
According to the Xinhua news agency, the man, along with three others, assaulted another man in the cafe, forcing him to give up various virtual goods and 100,000 yuan ($14,700) worth of the virtual currency known as QQ coins. The coins are the currency utilized by the major Chinese web portal, Tencent. It is used for the purchase of online goods and premium services for supported titles.
– Virtual Currency Extortion Leads to Three Years of Prison in China.
It isn’t too surprising that this sort of thing is getting taken seriously there; industry experts in China assess the virtual goods market there as being 25 times the size of the US market. (You can download an interesting report on this here, or just check out this slide show).
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