Microsoft Outlook Breach; Hackers Stole 1BTC and More

Wilfred Michael 

Wilfred Michael

News reporter

30 April 2019,
18:11
Microsoft Outlook Breach; Hackers Stole 1BTC and More

Several weeks after hackers breached popular email service provider, Microsoft Outlook; recent reports show that cryptocurrency holders using the platform lost their funds to the ugly incident.

Motherboard revealed today that breaking into users’ cryptocurrency wallets may have been the primary motivation behind hackers targeting the email service. Sadly, several users have come forward to flag themselves as victims of the breach with one mainly reporting the loss of 1BTC (appr. $5300) to the hackers.

Explaining how the breach happened, Jevon Ritmeester told Motherboard that the cryptocurrency was stolen from an account he held on U.S based crypto exchange, Kraken. He did not enable two-factor authentication on the account, hence, the straightforward breach.

“The hackers also had access to my inbox allowing them to password reset my Kraken.com account and withdrawal [sic] my Bitcoin,” Jevon said.

He further explained that the user rerouted any email coming to him from Kraken to the spam folder and it was in this section of his inbox that he saw password reset emails used by the hackers.

Aside from Jevon, two other users on Reddit reported that they also lost cryptocurrencies as a result of the breach, even though they did not state the exact amount. One of them, however, mentioned that they “lost 25,000 in crypto” but didn’t specify the cryptocurrency or fiat denomination.

Meanwhile, Jevon told Motherboard that he was planning to file a police report against Microsoft and claims the email service provider was not taking the case seriously, despite the vast number of users affected. He believes that Microsoft should be “liable for the financial damage and the fact that a lot of [his] personal information may get leaked in the near future.”

Although the Microsoft Outlook hack is not directly linked to the crypto industry, it adds up to recent breaches targeting cryptocurrency holders. Since the turn of the year, Stmarket.co has reported breaches involving Singapore-based crypto exchange DragonEX and Finland-based LocalBitcoins.

 

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