Government Wants To Protect Robux From Hackers

The Consumer Financial Protection Bureau announced a new system on Friday that will protect your Robux from scammers and fraud.

The law would interpret wording in the Electronic Fund Transfer Act, or EFTA, which was previously used to protect consumers from unauthorized transactions, including payments made by gaming and cryptocurrency companies.

“Gamers—or in some cases their parents and guardians—have reported problems such as converting dollars to in-game currency, unauthorized transactions, account hijacking and hijacking, theft, corruption, and lost property,” the CFPB’s announcement post said. an idea. “They have also explained that they do not receive any support from the game companies and the banks or digital wallets involved. Refunds are often denied, people are getting their game accounts suspended by the video game company after players try to get a refund from their financial institution, or people are left in the dark. problems and AI-powered customer representatives where they are just trying to find direct solutions.”

Friday’s proposal aims to fix this. EFTA protects consumers from electronic money transfers, reduces their liability for errors, and provides them with mechanisms to control illegal activities. When notified by consumers, financial institutions must investigate unauthorized transactions and correct errors as soon as possible. In its interpretation, the CFPB states that consumers have the same rights when using other funds.

However, EFTA only applies to games that allow players to exchange money between themselves using accounts similar to “consumer product accounts.” For example, the popular children’s gaming platform Roblox allows developers to earn Robux by selling cosmetic items or creating their own game world and experience. Through Roblox’s DevEx program, Robux can be converted to US dollars.

Not all games that display game money are required to comply with the law. Fortnite players, for example, can use V-Bucks to buy cosmetic items and “battles,” but the money cannot be exchanged between players and other merchants.

Last year, the CFPB put gaming companies, by submitting a report detailing the risk involved in the purchase and transfer of real money. In it, the organization said that the banks and currencies in games and crypto platforms are very similar to the infrastructure of banks, with little protection for users if money is lost or stolen.

“Americans of all ages are turning billions of dollars into spending on real-time and online gaming,” CFPB Director Rohit Chopra said in a statement about the event last year. “As more banking and payment services take place in video games and around the world, the CFPB is looking for ways to protect consumers from scams and fraud.”

The video game industry has remained largely unregulated, despite several lawsuits and government investigations over the past few years. Last month, the Federal Trade Commission reached its peak with Epic GamesThe developer of Fortnite, who wants the company to return more than $245 million in refunds to users who were tricked into buying real money for the game.

The CFPB’s proposal may not take effect anytime soon. In a press release issued on Friday, the organization said it will be asking for feedback, especially from the players, about the security they need. The deadline for comments is March 31, 2025.