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Report: Hackers Leverage Microsoft Email Accounts to Steal Users’ Crypto

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Crypto hacks

Microsoft’s email services such as Outlook, Hotmail and MSN have experienced another blow. Some crypto adopters have purported that the recent hack on Microsoft email accounts saw them lose their crypto holdings.

Victims of the attack came out to express their anger after losing their hard-earned money. One user claimed that he lost 1.05 BTC that he had stored on Kraken exchange. He said that he tried to check the status of his crypto, but his password did not work. He found this strange as he used a password manager and unique passwords for his accounts. The user discovered that the hackers had reset his password and stolen his crypto. Afterward, the attackers deleted all alert messages from Kraken.

Unfortunately for the user, he had not enabled two-factor authentication (2FA) on Kraken exchange. He believed that his password was strong enough. According to him, the hackers couldn’t have stolen his crypto were it not for Microsoft’s leak, which he claims came from within. Other users came out to share similar experiences detailing how they lost their crypto.

Prior to this news, a report claimed that hackers could access sensitive data on Outlook, Hotmail and MSN accounts. According to the publication, the attackers used a Microsoft customer support portal. Through the account, they could read emails from all non-corporate accounts.

A Potential Cover-up

Microsoft said the first attack occurred between March 1 and March 28. However, other reports alleged the attackers might have had access to some email addresses for over six months. The data they got included subject lines of emails and contacts.

Microsoft’s spokesperson said that the firm had tackled this issue by disabling the compromised credentials to the targeted accounts. The spokesperson added that the company had blocked the attackers’ access to the accounts.

The first email statement that Microsoft sent to its affected users sought to assure them that the attackers only got information such as contacts. Per Microsoft, the hackers had not accessed the content of any emails or attachments.

Two days later, a report emerged revealing that the perpetrators had been able to read email content. Microsoft has not yet responded to the report’s claims.

Just a week ago, an independent security evaluator reported of a blockchain thief who had stolen millions in ETH by guessing weak private keys. Coinbene has also continued refuting claims that it lost $100 million in a hack that occurred in March.

Do you think Microsoft is concealing the scope of its security breach? Let us know in the comments below.

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