If you’ve bought a Counter-Strike: Global Offensive Weapon Case Key on the 28th of October 2019 or after, you cannot trade the key or sell it on the Steam marketplace. Valve has updated its Counter Strike blog letting players know that they’ve removed this ability going forward. Keys were used massively for trading towards skins and were used as an unofficial currency by players, this is because they had a static price of US$2.50 to purchase.
Valve has made this change due to people buying these CS:GO keys with a stolen credit card, buying keys and then selling them for real money. Once the person realizes their credit card details have been stolen, they reverse the transaction and Valve loses the money used to buy the keys. However, the criminal still has the money from selling the keys for real money. Valve state “nowadays almost all keys purchased and sold on the Steam marketplace are fraud purchases”.
Keys that are your inventory before this update can still be traded among players and used to unlock weapon crates. It is only new keys that are bound to your Steam account. Traders among many CS:GO trading websites are speculating that skin prices may fall slightly because of this update but only time will tell the real outcome.
What I am interested in knowing is if the keys are going to show up on CS:GO gambling websites now that some people will consider them rare. Will their price rise because of this or will people want to stay away from them as they can only be traded or used to open CS:GO Weapon cases now.