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Mr Xanatos
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Posted - 2009.02.10 20:25:00 -
[1]
Edited by: Mr Xanatos on 10/02/2009 20:26:09
A week after the exploit came into the public light, a Veteran player told me how one of his friends had made $200,000 USD (yes I said two hundred thousand United States Dollars) from the exploit by buying selling the Isk he cheated out of the game and selling it for real money through Ebay and Paypal. I laughed it off as nonsense and played on, that is until a I saw the new Dev Blog a few minutes ago.
The Dev Blog posted today says
 Quote:
Our estimate is that the exploiting parties made between six and 12 trillion ISK from this exploit.
So I decided to crunch some numbers,
6,000,000,000,000 Isk (6 Trillion) divided by 700,000,000 Isk (700 Million Isk, average GTC price as of today) = 8571.429 GTCÆs
1 GTC Approx = $35 USD
8571.429 X $35 US Per GTC = $300,000 USD
So if my calculations are correct (please feel free to correct any errors I made) then the Isk exploited turns into somewhere between $300,000 USD -> $600,000 USD.
Quote:
Our logs also show that there were only three corporations that had 88% of the 6.7 trillion ISK profit from the exploit.
88% of $300,000 USD -> $600,000 USD is equal to $264,000 USD -> $528,000 USD.
And to think I laughed at this Veteran player when he said his friend had made over $200,000 US from the exploit.
PS, I hope IÆm completely wrong in my numbers so if you find I had one to many Zeros or something please post here and shoot a whole in my math.
Thanks
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Jesslyn Daggererux
Gallente
SRIUS BISNIS
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Posted - 2009.02.10 20:26:00 -
[2]
First |
Gnulpie
Minmatar
Miner Tech
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Posted - 2009.02.10 20:28:00 -
[3]
Your numbers are probably correct. |
Alowishus
the united
Negative Ten.
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Posted - 2009.02.10 20:28:00 -
[4]
If it's true and someone was able to leverage this exploit into that kind of cash, I'm sure the IRS would love to find out who. |
Captain Pompous
Is Right Even When He's Wrong So Deal With It
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Posted - 2009.02.10 20:29:00 -
[5]
Originally by: Mr Xanatos
And to think I laughed at this Veteran player
Now we're all laughing at you
Mess with the karma bull and you get the horns |
URUS FORGE
Caldari
THE TRUST INCORPORATED
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Posted - 2009.02.10 20:29:00 -
[6]
I predicted this in the pos exploit thread.. not surprised what so ever. |
Marcus Druallis
Quantum Industries
RAZOR Alliance
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Posted - 2009.02.10 20:32:00 -
[7]
And people say video games aren't productive. HAH! |
Mr Xanatos
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Posted - 2009.02.10 20:33:00 -
[8]
Originally by: Alowishus
If it's true and someone was able to leverage this exploit into that kind of cash, I'm sure the IRS would love to find out who.
He doesnt live in the USA so no IRS. And even if he did there are many a way to move money around. I have several friends working in isolated parts of the world who get paid their wage (a rather substantial wage)tax free into any bank in any country they want and our local tax collectors dont have any access to the info. So I think if you want to move money around, it can be done. |
Tippia
Raddick Explorations
BlackWater.
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Posted - 2009.02.10 20:34:00 -
[9]
Now all we need is some ethnic-minority men in surprisingly ugly clothing to come around their house, nonchalantly playing with steel bats, and insinuate… things…
"Nice POS you have here… would be a pitty if something happened to it… hmmm?" |
Liz Laser
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Posted - 2009.02.10 20:39:00 -
[10]
Edited by: Liz Laser on 10/02/2009 20:39:16
Originally by: Tippia
Now all we need is some ethnic-minority men in surprisingly ugly clothing to come around their house, nonchalantly playing with steel bats, and insinuateā thingsā
"Nice POS you have hereā would be a pitty if something happened to itā hmmm?"
I would seriously subscribe to your newsletter. |
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Karrade Krise
Galatic P0RN Starz
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Posted - 2009.02.10 20:43:00 -
[11]
First page. Epic... |
F9OOEX
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Posted - 2009.02.10 20:46:00 -
[12]
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Trebor Notlimah
Lone Star EVE Group
Veni Vidi Vici
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Posted - 2009.02.10 20:49:00 -
[13]
I know a few players who make easily over 150k per year selling MMO items/gold -- and none of them declare it with the IRS AFAIK.
I don't see why EVE would be any different. |
Mr Xanatos
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Posted - 2009.02.10 20:52:00 -
[14]
Originally by: F9OOEX
Edited by: F9OOEX on 10/02/2009 20:47:31
Cashing in .... 
On the other side, what you expect ccp do to about it now. The money is probably long gone...
I dont expect anything from CCP, just pointing out the numbers.
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Karrade Krise
Galatic P0RN Starz
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Posted - 2009.02.10 20:55:00 -
[15]
Originally by: Trebor Notlimah
I know a few players who make easily over 150k per year selling MMO items/gold -- and none of them declare it with the IRS AFAIK.
I don't see why EVE would be any different.
o.0 How do they not get caught?
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Dirk Magnum
Royal Hiigaran Navy
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Posted - 2009.02.10 20:55:00 -
[16]
Edited by: Dirk Magnum on 10/02/2009 20:56:19
I have to call shenanigans on the 200k USD claim. One person was really behind the generation of between one and two/thirds (200k of the 300-600k USD potentially generated by 6-12 trillion ISK by the OP's figures) of the total ISK made by exploiting reactors? |
Mr Xanatos
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Posted - 2009.02.10 21:01:00 -
[17]
Originally by: Dirk Magnum
Edited by: Dirk Magnum on 10/02/2009 20:56:19
I have to call shenanigans on the 200k USD claim. One person was really behind the generation of between one and two/thirds (200k of the 300-600k USD potentially generated by 6-12 trillion ISK by the OP's figures) of the total ISK made by exploiting reactors?
Dev Blog
Quote:
Our logs also show that there were only three corporations that had 88% of the 6.7 trillion ISK profit from the exploit. These corporations were obviously setup specifically to harness this bug and when discovered were in the process of expanding their operations.
What if he was the CEO of one or more of these Corps? |
Khemul Zula
Amarr
Keisen Trade League
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Posted - 2009.02.10 21:03:00 -
[18]
Originally by: Karrade Krise
Originally by: Trebor Notlimah
I know a few players who make easily over 150k per year selling MMO items/gold -- and none of them declare it with the IRS AFAIK.
I don't see why EVE would be any different.
o.0 How do they not get caught?
If the transactions stay under a certain amount then they won't be reported to the IRS. On the other hand if someone at the IRS does eventually catch on, the person is going to be butchered on back taxes.  |
Zora Xen
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Posted - 2009.02.10 21:05:00 -
[19]
If this is the case banning the accounts seem a rather pitiful response.
The thing I find so chilling is not the exploiting itself, but when such large amounts of RL $ are at stake things quickly turn into 'serious business' ...which is a total turn-off for an average gamer like me.
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Dirk Magnum
Royal Hiigaran Navy
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Posted - 2009.02.10 21:07:00 -
[20]
Edited by: Dirk Magnum on 10/02/2009 21:09:08
Originally by: Mr Xanatos
Originally by: Dirk Magnum
Edited by: Dirk Magnum on 10/02/2009 20:56:19
I have to call shenanigans on the 200k USD claim. One person was really behind the generation of between one and two/thirds (200k of the 300-600k USD potentially generated by 6-12 trillion ISK by the OP's figures) of the total ISK made by exploiting reactors?
Dev Blog
Quote:
Our logs also show that there were only three corporations that had 88% of the 6.7 trillion ISK profit from the exploit. These corporations were obviously setup specifically to harness this bug and when discovered were in the process of expanding their operations.
What if he was the CEO of one or more of these Corps?
Still, there were nearly 200 exploiting POSs IIRC. One would have to have had help to administer that many operations in space where anyone interested in the high end moons could just swoop some Dreads in and take them. If he had partners who he then screwed out of tens of thousands of dollars they certainly would have reported the guy's activities (being careful to point out that the partners had only "just found out" that the guy was using what "looks like" an exploit, and that CCP should "look into it" .)
I mean it wouldn't surprise me if just a couple of people made several tens of thousands of dollars each on this but I'm finding a figure in the vicinity of 200k too much for one person. Of course on the other hand with that much money you could field an army of POS maintenance alts so I could be wrong.
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Flamable Content
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Posted - 2009.02.10 21:09:00 -
[21]
As quoted from the blog.
"Looking first at the Deimos, a popular Tech II cruiser."
LAWLS
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Plumpy McPudding
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Posted - 2009.02.10 21:54:00 -
[22]
Just look at the previous heavy manipulation of the PLEX market. A lot of people made huge bank before the price crash.
__________________________
Fear me for I have an insatiable appetite!
Proprietor and inventor of Chocolate Chip Chocolate Donut flavored Ice Cream. |
BiggusDixusMaximus
Ribbed and Lubricated
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Posted - 2009.02.10 22:32:00 -
[23]
All I want to know is who were the ones who got banned and who they were affiliated with. |
Armoured C
Gallente
Federation of Freedom Fighters
Executive Outcomes
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Posted - 2009.02.10 22:35:00 -
[24]
congratualtions, CCP is now looking at your entire history ,
you better confess to that isk you brought :)
we know this is alt/main but everything is traceable here , you cant hide from god... i mean CCP server eye  |
Mikalya
Amarr
Viziam
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Posted - 2009.02.10 22:36:00 -
[25]
Your numbers are off.
Remember, you can't use "today's" GTC prices; a month prior to this exploit getting shutdown GTC prices were 1/2 of what they are now and had been steady for a long time.
Still a snot-load of money though  |
Armoured C
Gallente
Federation of Freedom Fighters
Executive Outcomes
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Posted - 2009.02.10 22:38:00 -
[26]
you would have to average since it started average how much you get a week say and then apply it to the GTC pirces at the time per week of how many he could by
good luck with that
This week EvE Life: Wormhole Wars 01/Feb
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Mikalya
Amarr
Viziam
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Posted - 2009.02.10 22:39:00 -
[27]
Originally by: Zora Xen
The thing I find so chilling is not the exploiting itself, but when such large amounts of RL $ are at stake things quickly turn into 'serious business' ...which is a total turn-off for an average gamer like me.
Why? Prior to the publicity you didn't know it was happening. So how is this a turn-off now that it is "fixed" and no longer viable? The "average" gamer should find the info its killed enlightening.
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Rekless Revenge
Caldari
Caldari Mercenary Corp
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Posted - 2009.02.10 22:41:00 -
[28]
Lets hope they invested their "swag" into an Icelandic bank.
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blkmajik
ZiTek Deepspace Explorations
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Posted - 2009.02.10 22:41:00 -
[29]
It seems like they were selling isk, not GTC's. So 700m doesn't get you one GTC ($35). Just googled for 'eve-online isk' and see what it goes for. Seems more like 1bil isk currently goes for $22.80 USD.
So it's more like (6tril / 1bil) * $22.80 = $136,800. Not that it's not significant! Just much lower....
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Armoured C
Gallente
Federation of Freedom Fighters
Executive Outcomes
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Posted - 2009.02.10 22:41:00 -
[30]
Originally by: Zora Xen
If this is the case banning the accounts seem a rather pitiful response.
The thing I find so chilling is not the exploiting itself, but when such large amounts of RL $ are at stake things quickly turn into 'serious business' ...which is a total turn-off for an average gamer like me.
because of this turn off does this mean you cheat since you didnt know about it in the slightest till it was announced ... ooh yes i can see it ruining all that time you never knew it existed 
This week EvE Life: Wormhole Wars 01/Feb
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