Singaporeans lose over $100,000 to new crypto gaming craze

One Neko Inu player converted US$10,000 in the game, just three days before all USDT was converted to Neko$ (posed photo). NEW PAPER FILE PHOTO
New: Gift this subscriber-only story to your friends and family

SINGAPORE - About 20 police reports have been made against a Singaporean named as the chief marketing officer of a play-to-earn game that has allegedly cost local players more than $100,000 in lost cryptocurrency.

The Neko Inu game rode on the play-to-earn crypto gaming craze and was launched earlier this year, allowing players to earn USDT, which is a form of cryptocurrency.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.