‘It's a Scam’: Epic Games CEO Warns Against Investing in Fortnite Cryptocurrency

The Epic Games chief took the opportunity to call out the crypto platforms that are not filtering out unofficial crypto projects.

By Radhika Parashar | Updated: 8 June 2022 14:52 IST

‘It's a Scam’: Epic Games CEO Warns Against Investing in Fortnite Cryptocurrency

Photo Credit: Nvidia

Sweeney addressed the issue on Twitter, revealing that this project is fake

Highlights

Tim Sweeney is upset with crypto platforms not filtering scam projects
Fortnite Token is not backed by Epic Games, Sweeney said
Scam activities continue to show growth in the crypto sector

Amid rising number of scams shadowing the crypto industry, Tim Sweeney has warned people against falling prey to a scam making the rounds on social media. Sweeny's gaming company Epic Games parents the popular multi-player game called ‘Fortnite'. Sweeny has told Fortnite players that a scammy cryptocurrency project called ‘Fortnite token (FNT)' is making the rounds on social media. The crypto project in the light is made by Fortnite fans, which is not officially linked with the multi-player game whatsoever.

Sweeney addressed the issue on Twitter, revealing that this project is fake. He also revealed that the company lawyers are working on dealing with this crypto project.

It's all a scam.
— Tim Sweeney (@TimSweeneyEpic) June 6, 2022

The Epic Games chief took the opportunity to call out the crypto platforms that are not filtering out unofficial crypto projects.

There isn't a Fortnite cryptocurrency. The Twitter accounts promoting such a thing are a scam. Epic's lawyers are on it. Also, shame on the cryptocurrency marketplaces that enable this kind of thing.
— Tim Sweeney (@TimSweeneyEpic) June 6, 2022

As per a report by InputMag, this Fortnite crypto token has a subreddit with 87 members. This page has not seen any internal page activity.

A few non-bot comments on this subreddit also have claimed that this project is a scam.

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The project also had its NFT line, that was available on OpenSea NFT marketplace, has also not seen any trading activity.

At the time of writing, OpenSea was not launching the page for these NFTs.

“This content is no longer accessible on OpenSea. This content is no longer accessible on OpenSea. It has been removed based on a claim of intellectual property infringement,” the prompt on the NFT marketplace noted.

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The Twitter page of this Fortnite token has also been taken down from the micro-blogging platform.

Back in May, Dogecoin co-founder Billy Markus had labelled 95 percent of cryptocurrency projects "scams and garbage" in a tweet urging his followers to change the general opinion people have about the crypto industry.

the reason why people think crypto is 95% scams and garbage and most crypto people are assholes is because crypto is 95% scams and garbage and most crypto people are assholes

let's change that. it starts with you - what you support, and how you behave.
— Shibetoshi Nakamoto (@BillyM2k) May 16, 2022

More than 46,000 people reported losing over $1 billion (roughly Rs. 7,770) in cryptocurrency scams since the start of 2021, a recent report by the Federal Trade Commission (FTC) had said in a recent report.

Nearly half the people who reported losing digital currencies in a scam said it started with an ad, post or a message on a social media platform, according to the FTC.

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Further reading: Epic Games, Fortnite, Tim Sweeney, Cryptocurrency, FNT, Fortnite Token, Scam

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More