Ex-Microsoft Employee Arrested for $10 Million Crypto Theft


A former worker at Microsoft has been arrested for a scheme to steal $10 million in cryptocurrency, the Related Press (AP) reported on July 17.

Insider schemes

The person — a 25-year outdated Ukrainian nationwide, Volodymyr Kvashuk, allegedly used the ill-gotten proceeds to purchase a $160,000 Tesla automobile and a $1.7 million lakefront dwelling. In the course of the seven months of his scheme, $2.eight million was discovered to have been transferred into his financial institution accounts.

Particularly, Kvashuk is accused of getting stolen cryptocurrency reward playing cards that had been redeemable in opposition to Microsoft merchandise after which reselling them at a revenue on the net.

In keeping with the US lawyer’s workplace in Seattle, the suspect had helped with Microsoft’s testing of its on-line retail gross sales platform.

Kvashuk’s lawyer didn’t reportedly reply AP’s request for remark.

Exterior breaches

This April, a number of cryptocurrency holders alleged that their Microsoft-based e mail providers — resembling Outlook, Hotmail and MSN — has been attacked by hackers eyeing their crypto holdings. 

Among the many victims, one claimed that the breach of his e mail account had enabled the attackers to reset his account on crypto trade Kraken. Microsoft confirmed that the breach had occurred throughout the first months of this 12 months.


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