The above is an excellent reason to avoid linking things like a Facebook account to a Runescape account. Although I understand their marketing incentive, it is irresponsible for Jagex to advocate these connections, security-wise.
Regarding the effect on the rate market, any actual effect will be solely due to unfounded panic. Most estimates have put the lost items at closer to 200 billion, but more importantly these items weren't in the market to begin with. The player who lost the items was well-known to hoard rares, not putting them back into the market. If anything, her newfound lack of wealth should decrease demand for rares, since if she should return to Runescape it will take her much longer to resume acquiring and hoarding rares.
I don't know the exact means used by the perpetrators to gain the relevant recovery answers for the account in question. Maybe the account's owner really is partially to blame for connecting Runescape and social networking accounts, but many players do this, and Jagex is now encouraging it. If Jagex proposes recovery questions that could be answered by i.e. viewing the account holder's Facebook page, and also encourages players to associate their Runescape and social networking accounts, doesn't that place at least some of the responsibility on them?
Nicely worded. I agree that some of the blame is potentially on Jagex for encouraging players to associate their accounts with such personal data. It goes against their advice to keep their recoveries personal, but a few key recovery questions and other pertinent information could be deduced simply from viewing a profile page like FaceBook that disseminates such personal information.
Especially with how FaceBook is centered around connecting with old friends and family it seems, the relevant information for one to reconnect with a signifigant figure is made publicly avalible, and that same personal information that really at best, only your family should know about you is of course made public because FaceBook capitalizes on connections.
It's not FaceBook's fault of course, but the way Jagex approached the issue of advertising themselves (although other gaming companies do it too I suppose) completely eschewed any personal connection that FaceBook capitalizes on as an objective to keep their site running. If it's personal information that can endanger your account, keep it personal. If that same information exists on your public profile where you're going to link it with Jagex, don't link it, because other people can draw connections between your game account information and personal information.
In short, I would also agree that it's partly the account owner's fault for not fully thinking through the ramifications of associating themselves with Jagex on a site not affiliated with it, but Jagex chooses to advertise itself on. Had FaceBook and Jagex been official partners, such information would been eschewed from being divulged because Jagex could easily control the flow of personal details pouring through between the two sites by setting limits.
They would foresee these security threats because they're not in the exact frame of mind -- that is to advertise by taking advantage of what FaceBook gives them to do whatever -- rather than to set their own objectives with their own predefined limits as to how to reach them. In short, if Jagex had advertised themselves through a medium where they could control the flow of information being divulged, Jagex could advertise themselves to the public successfuly while also ensuring that no one could endanger their account by posting sensitive data.
Correct me if I'm wrong, Geek, but I believe a majority of those rares were sold to the public before the ban took place. So in theory, rares might dip a little or even crash for that matter since one of the biggest rare hoarders are gone. A youtube video shows the hacked acc pleading to give all the items away and quitting by framing a known person. The hacked acc actually instead, sold the items, including the santa hats for a considerably cheaper price. The certain youtube video also has pictures of the hack that took place when santas and green partyhats were being sold to the GE. So the rares stolen might have a very minimal effect on the market, but I can't speculate that rares may rise since so many hoarded rares have now reached circulation again.
The FOE people used personal information to "recover" the account. My guess is that this was
all done from sensitive information leaked by her Facebook, Twitter, or even her RS clan chat and Youtube channel.
~My last post was when I just figured this out. So sorry if I sound a little contradicted.
I've heard about rares being sold before they were banned. Since I presume the buyers got the rares for cheaper than usual, they have an incentive to sell them to make a quick profit, as opposed to the items technically not existing on the market either way because the rares are just sitting in her bank. So since I presume they'll be on the market, prices will definitely fluctuate. I would think the prices would go up because the people they sold the rares too would be looking to profit. The only factor I foresee changing any price drastically is panic trading. Since a profit is to be made from those rares, the stolen rares are obviously existing on the market.
Since the majority of rares have been sold as opposed to the minority banned, it's fallacious to assume that prices will go up simply because the perpretators were banned. The majority of the stolen rares are being traded on the market, so the same supply of rares meets the demand as before. Thus, according to basic economics, the prices should not fluctuate outside their parameters defined by this sustained supply and demand. My mistake espoused the opposite conclusion in my closing thoughts of my first post. However, since the vast amount of the populace seems to be in direct opposition to critical thinking, they will of course panic and cause prices to rise.
An interesting explanation I heard is that, should Chessy ever return to RuneScape and find herself looted, demand and thus prices would fall for rares because Chessy would be regaining her wealth. The populace would know that Chessy is no longer in possession of these rares, so it would be pointless for the demand to rise because demand assumes that supply still exists. However, even if the vast amount of rares were instead banned as opposed to being redistributed through the market, demand would fall because those rares were gone -- and you can't demand something you know someone doesn't have. Interesting take on the issue. It's not what I espouse, but interesting nonetheless.