The game, which was developed using Google Maps as the playing board, was launched on Wednesday and, according to Hasbro has seen 1.7m people attempting to access the game in its first 24 hours.
According to reports, "Unprecedented demand" has caused the game's overloaded servers to crash under the strain. Engineers are currently working at restoring the game, which will only be available for four months.
The goal of the game, like the real-world version, is to earn money on real estate and become the richest property magnate.
New players are given $3m Monopoly dollars to build their virtual empire, with every street in the world available for purchase.
Once a player has gained ownership of a street, they are able to charge rent and build new virtual properties. Streets can also be traded and sold with other players.
The game will close on the January 31, 2010.