Core Insights - Valve's update on October 23 led to a significant crash in the CS2 virtual item market, with rare items like gloves and knives experiencing price drops of over 60%, and some items dropping by more than 80% [2][3][7] Market Impact - The market index for virtual items plummeted from 1662 points to 943 points on October 23, marking a single-day decline of approximately 44%, followed by an additional drop of 30% the next day [5][7] - The total market value of CS2 items is reported to have evaporated by nearly $2 billion due to this update [13] Player Reactions - Many players expressed frustration on social media, with reports of significant financial losses, including one player who lost approximately $240,000 after investing $500,000 since 2021 [2][19] - Players who viewed CS2 items as investment assets were particularly hard hit, with some reporting losses of over $200,000 in a single night [17][18] Legal Considerations - A U.S. player has filed a complaint with the SEC, alleging potential market manipulation by Valve prior to the update, although legal experts suggest that proving such claims may be difficult [20][21] - Legal experts indicate that game companies have the right to modify game rules, and unless there is clear evidence of malicious intent, it is challenging to claim a violation of player rights [21][23] Changes in Game Mechanics - The update altered the trading mechanism for skins and knives, allowing players to combine easily obtainable skins to create rare items, drastically lowering the barrier to entry for acquiring high-end items [4][5] - This change has fundamentally undermined the value of previously rare items, leading to a rapid market response [5][7]