CSGO Lounge to refund users for lost skins
CSGO Lounge, one of the largest skin betting platforms in the world, has announced plans to reimburse users who lost their skins when the site was shut down. The site, which recently relaunched as an entertainment and media agency, will begin the refund process in March.
Valve sends cease and desist letters to CSGO Lounge
On July 10, Valve sent cease and desist letters to CSGO Lounge and other sites, demanding they cease their activities of using Steam accounts for commercial purposes. As a result, bot accounts handling payouts were banned, preventing users from claiming their winnings.
Refunds for stuck skins
ESForce Holdings and CSGO Lounge will now refund users whose skins were stuck on bot accounts. The refund mechanism is currently being worked on and will be implemented by March at the latest.
“We [ESForce/CSGO Lounge] are currently working on the technical side of the refund mechanism and legal aspects of the issue,” the company stated.
CSGO Lounge continues as an esports platform
After shutting down its betting component, CSGO Lounge has rebranded as an esports entertainment and information platform. The site promised to release new features soon.
At its peak, CSGO Lounge received over 38 million hits per month and handled more than $1 billion worth of skins in the first half of 2016, according to research from Narus Advisors.