NFT Game Company’s Cryptocurrency Crashes After Players Find Money Glitch
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Key points
- De:Lithe Last Memories’ cryptocurrency, GEEK, was delisted on two exchanges.
- Players found a loophole that essentially introduced infinite money.
- The game’s developers announced in 2024 that they had entered their 10th consecutive year of losing money.
De:Lithe Last Memories’ cryptocurrency, GEEK, was delisted on two crypto exchanges as players realized that the game had a loophole that allowed for infinite money.
According to a report by Automaton Media, players of De:Lithe Last Memories complained that the game’s restrictions were too strict. The game operated on a first-come, first-served basis, which means that only a few players could cash out their earnings from the game per day.
As a result, the developers relaxed the limitations. But after a campaign promoting the exchange of GEEK to xGEEK, another currency that can only be used to purchase in-game items, players realized that performing the transaction would give them bonus special xGEEK Lite.
Players could then use these bonus xGEEK Lite coins to buy more NFT characters, which could earn them more GEEK that they could convert back to xGEEK. Additionally, they could also withdraw the remainder after the transaction, which can result in players profiting 1.4 times the money they put in the game.
The developers realized this and reinstated the previous restrictions. However, it was already too late, as the effect of the glitch had delisted GEEK from the Gate.io and Bitget crypto exchanges.
De:Lithe Last Memories was released on Aug. 14, 2024, for mobile and PC. The developers, Enish, announced in 2024 that the company had been losing money for 10 consecutive years.
