$2B Counter-Strike 2 crash exposes a legal black hole: Your digital investments aren’t really yours

By: João Marinotti, Indiana University, The Conversation

Outlets: The Conversation

Published: November 21, 2025

Words: 1,194

Last Updated: 3 days, 18 hours ago

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By João Marinotti, Indiana University

In late October 2025, as much as US$2 billion vanished from a digital marketplace. This wasn’t a hack or a bubble bursting. It happened because one company, Valve, changed the rules for its video game Counter-Strike 2, a popular first-person shooter with a global player base of nearly 30 million monthly users.

For years, its players have bought, sold and traded digital cosmetic items, known as “skins.” Some …

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