Pegaxy: Beware Fake Mobile App Stealing Private Keys

Pegaxy remains among top Polygon games, despite losses for its native PGX and VIS tokens.

Pegaxy, one of the games drawing in peak visitors over the past months, has issued a warning of a faked app riding on its reputation. 

https://twitter.com/PegaxyOfficial/status/1499922955543134208

Pegaxy has warned that it has no official mobile app yet. Providing private keys for any app or link that is not linked to the game is highly risky. 

The Pegaxy game still registers more than 16K players per 24-hour period, based on DappRadar data. The game is also suspected of carrying bots that compete both for NFT sales and within competitions. 

One of the tools to improve performance and earnings is to join guilds, or search out scholarships for powered-up playable Pega NFT characters. Pegaxy is showcasing guilds of higher reputation. 

Pegaxy remains the second most played game on Polygon, and is ranked 21 as the most visited game on all blockchains. Despite this, the game’s native assets are unraveling to lower price levels. 

PGX, VIS Continue to Drop

PGX, the voting asset of the game, had a recent crash as low as $0.12, before recovering to $0.15. In the past week alone, PGX has lost more than 50% of its value. 

VIS saw a similar performance, sliding in the past seven days to a low of 0.012. VIS is the breeding and reward token, and faces clear issues of oversupply and selling pressure. However, even with low prices, there is still readiness to play. 

For Pegaxy players, the next level is to buy and power-up Pegas, and the game sees significant offerings seeking active players for small-scale scholarships. 

Now, Pegas are also selling at a much lower average price, which is very close to the current floor price. With more than 326,400 items for sale, Pegas are losing their value. One of the tools to lift the floor price is for bots to buy up the cheapest Pegas, thus preventing players from acquiring characters. 

At 0.064 ETH floor price, Pegas are still more expensive compared to potential VIS and PGX earnings. The game now faces the challenge of remaining one of the top-visited P2E offers, while overcoming the weakness of its token and NFT model.

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