US$2 MILLION

AMOUNT ALLEGEDLY LAUNDERED BY CHINESE GAMING WEBSITE VIA HACKED XBOX ACCOUNTS

A Chinese gaming website called iGSKY has reportedly been hacking Xbox accounts for the last 2 years, stealing users’ Microsoft credits, along with in-game items and currency, then selling them on the open market. The company would purchase these various digital currencies using the hacked user’s saved credit card information, and then sell them from its website for a cheaper price. Microsoft has filed a federal complaint, alleging that iGSKY stole and laundered around US$2 million with this method and is bringing charges of fraud and racketeering, amongst others.