Game companies can and do sue for breach of contract. When you agree to the TOS and EULA that is considered a binding legal agreement. Sometimes people can and do find ways around specific clauses. But in this case, it is most definitely enforceable if the companies can prove the case against a specific offender in a court of law. Additionally most of the methods for acquiring the in game currency are themselves hacks and exploits of the game itself, and that is in fact illegal in many countries including the EU and USA, under IP laws. Thus, the hacking of the game in order to acquire the goods to sell, most definitely does fall under IP laws. Finally in game items are not considered owned by the player by any country that I know of. Rather, the player is considered to have a non-negotiable, non-transferable license to game content that is further revocable at the sole discretion of the IP owner. Therefore any real money sale of in game items is also a violation of IP laws, and the "non-transferable" part of the license.
So yes in fact: illegally hacking the game to acquire virtual goods is covered on many countries IP laws, and the selling of the virtual goods is a violation of a binding legal document, that would be considered a breach of agreement, and is also a violation of IP since the virtual goods are not in fact owned by the seller, but the IP holder which in this case is Square-Enix.
The problem however is not in the legality of the issue, but the enforcing of it, given the people doing the exploiting are typically in countries that turn a blind eye to such international violations.
Well the biggest one wasn't one that won on the merits of the EULA but IP circumvention laws. That was Blizzard vs Gilder. In that case they sued due to the fact they were bypassing the system, and facilitating the violating of the EULA. In lower court it was upheld, but in higher the EULA portion was thrown out, not because it wasn't binding (in the USA) but because gilder weren't themselves violating the EULA, they were selling software that others were using, but not themselves using it, and the court found the concept of "facilitating" to be a bit on the sketchy side in that case. They did still win however on the IP law, and then further started sending out cease and desists via pay-pal to the individual violators who used the software to themselves violate the license.
Further Jagex also announced back in 2012 that they were not only suing gold farming companies regarding RuneScape, but individual users who violated the license as well. Just because individual lawsuits like this are not common public knowledge does not mean they do not happen. Usually only the big ones suing a specific company are made common knowledge, while the smaller ones of individuals are kept private.
The point being: yes game companies go after these cases when they have solid ground to do so. Not all portions are upheld, but other cases regarding EULA violations have in fact been upheld, and others have gone through on the basis of IP circumvention laws. Some have settled instead (which usually means that the sued company realized they would lose, and the suing company realized that while they could win it would be simpler/cheaper to settle).
Also regarding the EU, if you are referring to the 2012 decision regarding re-sale of digital games, as far as I know that has not been stated to apply in the case of online game content as contained on the game company servers, which is what is ultimately being discussed here since this is an MMO. In the EU it would be legal to resell a legally acquired digital download of the game client itself, but the license regarding server access is a different question entirely.


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