Chicago Gaming United to produce an epic NBA2K tournament to Chicagoland high school students

Tyceno, streamer and YouTuber was the first to expose the fraud. He convinced gamers to offer them thousands of dollars in exchange with the promise of thousands more NBA 2K MT Coins. "I am convinced to believe that @StepBackRack could be the person behind an enormous illegal pyramid scheme that occurred within the NBA 2K community where more than $200,000 was taken from vulnerable players who believed they could 'flip' their money," Tyceno wrote.

It's unclear whether Rack or Raangee had any knowledge of the scam or whether their accounts were compromised. We've tried several times to reach them but we were unable to reach them.

According to Tyceno along with other reported victims who contacted us, "Rack" reached out to a few youngsters via the game's in-game voice chat feature. The terms of service forbid the use of the service for illegal motives, commercial uses or to wager money with others. 2K is the company that publishes NBA 2K, has not responded to repeated inquiries for information.

Tyceno Tyceno Rack offered players to invest huge sums of money, promising unusually high returns that could be as high as 40 percent. "I had to pay $6000 back, and was expected to get $11,000 for that Buy NBA 2K MT, due to the "interest" we were supposed to get paying," one alleged victim aged 21 shared with us. Rack put up hundreds of thousands of dollars worth of bets and wanted to boast about how much money it cost.