Taking off last month via the #givetheirmoneyback hashtag, gamers alleged that prominent figure in the community @StepBackRack (who has 3,600 Twitch followers and is known commonly as ‘Rack’) stole hundreds of thousands of dollars from the Australian and New Zealand community, in what appears to be an investment scam. It’s alleged another gamer, @Raangee, was also involved in the scam.
YouTuber and streamer Tyceno was the first to bring to light the scam, which convinced young gamers to part with thousands of dollars in the belief they make thousands more.
“I have strong reason to believe @StepBackRack is the man behind a huge illegal pyramid scheme that took place in the NBA 2K community, in which over $200,000 got taken from young vulnerable victims believing they could ‘flip’ their money,” Tyceno wrote.
Tyceno alleged Rack asked the gamers to invest large sums of money, promising unusually high returns of up to 40%.
“I lost $6000, was supposed to be paid $11,000 on that due to the ‘interest’ we were supposed to be paid,” one alleged victim, aged 21, told us.
“The scam took place originally by this dude Rack posting hundreds of thousand dollar bets and just trying to boast about how much money he apparently had.”
Another victim, aged 17, lodged a cybercrime report via the Australian Cyber Security Centre after allegedly losing $6,000 in the scam.
“He [Rack] explained it as giving a loan and being paid back with interest,” the teenager said.
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