Steam Auction reset following economy collapse

Chances are, if you’re already hyped for the Steam Auction that kicked off last week, you’ll be aware that the whole thing had to be stopped and restarted on Thursday. It seems that a duplication exploit had popped up, producing billions of gems and effectively collapsing the virtual economy.

The First Steam Holiday Auction

The First Steam Holiday Auction

The studio, who has presumably fixed the problem now, apologises for the interruption and points out that any bids placed before the reset will now need to be placed again.

If you are affected by the reset, Valve asks you to note the following:

  • All Gems created by you have been returned to your Inventory
  • All Gem purchases from the Community Market have been reimbursed. View your Store Transactions to see the Wallet Credit to your account.
  • All previous Auction bids have been canceled and the Auction has been reset.
  • Additionally, anyone who traded away items in exchange for Steam Gems on the first day of bidding will receive a copy of Counter-Strike: Global Offensive in their Inventory.

The auction itself will kick off on December 16 at 2:15am PST (What’s that in my timezone?), ending on December 19 at 4:30am What’s that in my timezone?), just in time for the annual Steam Holiday Sale.

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