Microsoft Email Accounts Hacked To Steal Cryptocurrency; Outlook, Hotmail And MSN Users Take Heed


Microsoft Email Accounts Hacked To Steal Cryptocurrency

A recent report suggests that many Microsoft product users of services like Outlook, Hotmail and MSN who also had cryptocurrency tokens in their possession have been robbed by a hacker on April 29th. One of the victims claimed that hackers got hold of his email accounts and then reset his password and gained access to his Kraken exchange account and stole 1 BTC from his exchange wallet. The news got trending on Reddit and many other victims came forward to claim the same experience.

Microsoft took note of the breach and said that the alleged hacking spree began on January 1st and lasted until March 28th of this year. However, the victims have claimed that their accounts were hacked as late as April and the hacking might have continued for well over 6 months.

The hackers initially reached affected users via Microsoft Support agent account and the company also assured earlier that the hackers might have gotten access to metadata of the affected emails but not the content of the emails. However, only a couple of days later it was revealed that the scammers not only got hold of the email content but also changed passwords to gain complete control, which they later used to access victim's crypto holding from various exchanges.

Microsoft is yet to provide any clarification on such a massive security breach, and the situation becomes more complicated since only a few days earlier an independent security evaluator has reported of a possible blockchain thief who has stolen millions in crypto by guessing the weak private keys. Apart from that, it was reported that Coinbene has lost over $100 million in a hack attack, however, the exchange has continuously denied any such theft.

Conclusion

The recent theft and hacks of crypto assets through exchanges and breached email accounts point towards a very important security lapse that both the consumers and exchanges ignore. It is highly recommended for anyone dealing in cryptocurrencies to hold their digital assets in hardware or cold wallets instead of exchanges or make-do software wallet extensions.

As it is evident from that once anyone gets holds of either your email account or the phone number, it becomes a cakewalk for the hacker to get through every detail of the victim's life and possessions that they hold. So, always look for the safest path rather than the easier one. Hopefully, Microsoft would come up with necessary security patch or change to ensure more security to its customers.

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