Former Microsoft Employee Put Behind Bars for $10 mln Crypto Theft July 18, 2019 July 18, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 18, 2019 by Kelly Cromley

Former Microsoft Employee Put Behind Bars for $10 mln Crypto Theft

The Associated Press (AP) has stated that an ex-Microsoft worker was detained for a plan to rob $10 million in cryptocurrency. The guy, a 25-year-old Ukrainian immigrant, named Volodymyr Kvashuk, supposedly purchased a $160,000 Tesla vehicle and a $1.7 million waterfront house from the swindled funds.

Throughout the duration of seven months for which he ran the program, $2.8 million was diverted to his savings accounts. In particular, Kvashuk is suspected of having looted cryptocurrency gift coupons that were exchangeable against Microsoft goods and reselling it online at a premium.

During his stint as Microsoft employee, the accused was handling the trial of the company’s online retail sales platform, as per the US attorney’s branch in Seattle. Many cryptocurrency investors this April claimed that their Microsoft-based web related services such as Outlook, Hotmail, and MSN were targeted by hackers in an attempt to plunder their crypto stocks.

Among those affected by the hackers, one of them stated that his email account infringement had made it possible for the hackers to modify the trading account held with Kraken cryptoexchange. Microsoft acknowledged the infringement happened during the initial months of 2019.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.