We have written several times about EVE Online virtual bank embezzlement scams and other problems with the player run banks. In the latest news EBANK has frozen all accounts as they are 1.2 Trillion ISK in debt. EBANK Chairman Ray McCormack announced the freeze “It is with deep regret that we inform you of our decision to suspend certain banking activities with immediate effect. As of now both withdrawals and interest are frozen until further notice. This decision has not come lightly, we have critically analysed all aspects of the business and decided it is in the best interest of our customers and the long-term sustainability of the bank that these actions be taken.” and also stated “withdrawals will be allowed once the bank achieves a maintainable equity status of 90% (1.8t currently); they will be stopped again should that fall below 80%.” Embezzlement and defaulted loans are being blamed on the mounting debt.
Read the EBANK release here.