VirWoX draining OMC accounts

A few months ago, I wrote about the VirWoX exchange having tons of money just sitting around in the OMC accounts, OMC being a hypergrid-enabled, multi-grid currency used by several OpenSim grids.

Well it turns out that money is now starting to drain from those accounts.

This was brought to our attention by DreamNation, the largest grid using VirWoX money back end. They recently had a few returning members claiming their accounts had been drained of their money. Some balances were completely drained down to zero.

(Image courtesy Zetamex.)

Unused but still falling OMC balances at Island Oasis. (Image courtesy Zetamex.)

Why this is a big deal is that here in the United States, we not too long ago had a new law pass that credits of any kind cannot expire. This was brought up in a couple law suits where people sued gift card issuers for charging inactivity fees. As a result, gift cards are not allowed to expire in the United States any longer.

While people’s opinions on this can and do vary, the VirWoX situation has caused a bit of an uproar at DreamNation.

DreamNation users cashing out after learning about the charges. (Image courtesy Zetamex.)

DreamNation users cashing out after learning about the charges. (Image courtesy Zetamex.)

DreamNation is now currently in talks with the Podex Exchange to manage their currency. Several grids already do this. Zandramas switched over earlier this year. Virtual Highway and Avination also use Podex for currency trading.

Meanwhile, any one or any grid that uses the OMC currency from VirWoX should be sure to keep the account active — or cash out. 

(Article reprinted with permission from Grid Press.)

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Timothy Rogers

Timothy Rogers is a developer and the founder and former owner of OpenSim hosting company Zetamex Networks. He is also the host of the Zadaroo website, which offers a complete collection of free Linda Kellie content.

10 Responses

  1. Justin Ireman says:

    It is in their terms and conditions, so it isn’t illegal or wrong. The problem is that most of us just do not read the small print any more for the things we sign up to – and really we should. There are many credit cards companies and pre-paid cards that have an inactivity fee, so it isn’t new.

    I think the best thing to do is make sure you keep your balance low and cash out, which is what I do any way. Thanks for the heads-up though

    •' Finnegan A Lemerian says:

      It isn’t wrong? I’d call it theft even if it is in their terms and conditions. Not that I really care since my grid is their biggest user and we will be leaving them soon. So take your bits and pieces while you can Virwox, your largest customer is jumping ship because of this.

  2.' SkyLifeGrid says:

    Get a Hypergrid Mod For Podex!!! Very excited potential Podex user “IF” we get Hypergrid support 🙂

  3.' Sugar Paolino says:

    Hi Timothy. It caught my eye seeing a picture of Island Oasis stats for Virwox. This struck me as odd why this picture was used as an example. Island Oasis has not used VirWox since April 7th, 2012 and our members were instructed to cash out or transfer their funds months before we rolled out our own currency system.

    Best Regards
    Sugar Paolino
    Co-Owner Island Oasis LLC

    •' Gabe says:

      If you read the article he is showing an example that money left on virwox is still there and depletes over time even for grids that quit using virwox a long time ago. Even though you guys quit using it there is still money in residents accounts that didn’t cash out. Anyone can see these graphs for any grid that uses virwox.

    •' hack13 says:

      That is exactly the reason I did use your grid, because you don’t use it anymore. Showing a grid that hasn’t used money in a year, to show that your users who never cashed out are having their money stolen from VirWoX. You really should as a grid owner, email and notify your old users who were with you back then, to go cash out before their money is gone Sugar Paolino.

      Concerned Citizen
      Timothy Francis Rogers
      CEO & Founder of Zetamex

      •' TribeGadgets says:

        Why should a grid that clearly informed residents in their own blog [here islandoasisgrid.blogspot]

        among other places of them discontinuing using VirWox be responsible for the

        practices of a third party? Especially as that third parties policies are written quite clearly
        (people do read the actual agrrement don’t they? …)
        Should these people being drained not actually pay some attention? You know, grown ups and
        all that?

        A Resident of Many grids

        •' Minethere says:

          there are grownups playing this stuff????? crap, if that is true I gonna take my toys and play elsewhere, grownups are so boring!!!

        •' hack13 says:

          I agree if they have already told, people should be grown ups about it. But still I have re-emailed all my customers using the module to re-inform them. But you must understand, Sugar was asking why I was using this graph. I was explaining we are using the graphic because a lot of money is still sitting in their grid, and it was the perfect example to use, as they haven’t used it for 2 years so it allowed me to show their residents getting their money drained.

          But yes I agree, it should be good practice to check your balance everywhere.

  4.' Dan says:

    I had .12775 Bitcoin and I just checked and its completely gone, all because of inactivity fees that I wasn’t aware of, I lost $1500 USD, its BS