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Valve dropped Bitcoin from Steam due to mass fraud


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Back in April 2016, Valve began accepting Bitcoin as a form of payment on the Steam Store, allowing those with cryptocurrency to purchase games. Valve eventually removed support for cryptocurrency in 2017, and now we know why – half of the transactions were fraudulent.

 

When Valve first decided to remove Bitcoin payments from Steam, the company stated that an increase in fees and the overall volatility of Bitcoin as a currency led to the decision. Recently though, Gabe Newell revealed another key reason for the decision, fraud.

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