The cryptocurrency world’s reliance on traditional technologies has fallen short yet again. Microsoft, one of the biggest IT companies in the world, had their e-mail servers hacked, leading to many cryptocurrency users becoming vulnerable to hackers.
In the early stages of the hack that surfaced two weeks ago, hackers got hold of Microsoft’s customer support account details, leading to data leaks pertaining to all unprotected and non-corporate accounts, including the ones on Outlook, Hotmail and MSN, reported Motherboard.
The report further added that the prime reason behind the hack was to gain access to users’ cryptocurrency funds.
Jevon Ritmeester was one of the victims of the hack and he stated that the hacker accessed his inbox and reset the password of his Kraken account, withdrawing his held Bitcoin in the process. He added that the hackers placed a rule that forwarded all emails with the keyword “Kraken” to a G-mail address that was controlled by the hackers.
Additionally, the hackers had access to password and cryptocurrency withdrawal request e-mails as well. Motherboard reported that the hackers stole 1 BTC, which was trading at $5,250, at press time.
Ritmeester claimed that Microsoft was “trying to cover up and is not taking this seriously,” adding that he is planning on filing a “police report” holding “Microsoft liable for financial damage.”
Microsoft stated that the preliminary breach occurred in the first quarter of the year. The IT company also confirmed that the hackers had access to the accounts for six months at least. However, the timeframe for the breach itself was between January 1 and March 28.
Another user, shinratechlabs, stated on Reddit that “25,000 in crypto” was lost from his account owing to the hack. He further added,
“For real do I have recourse against Microsoft? I am sure I am not the only one. Crypto users were targeted.”
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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.