Chinese gaming website commits credit card fraud with Xbox user accounts.
A Chinese “gaming service” hacked Xbox user accounts and used their credit card information to make purchases. The Chinese company is Gameest International Network Sales Co. The company ran the scam through its “gaming service” website iGSKY. The company advertised cheap coins and points for Xbox games on their website. When a customer bought coins or points, iGSKY hacked the user’s account and stole their credit card information to make the purchase. iGSKY then sold the coins or points to other customers at a discount and kept the remaining profit.
By doing this, iGSKY has scammed Xbox account holders out of over $2 million since 2015. This is why a lawsuit has been filed against Gameest International Network Sales Co. The lawsuit was filed by Microsoft, Xbox’s parent company.
Microsoft became suspicious when they noticed iGSKY’s cheap rates for Xbox coins and points. To understand how iGSKY operated, fraud investigators from Microsoft made purchases on iGSKY. Every time the investigators bought something, a Microsoft account was hacked at the same time. The hacked account always bought the same amount coins or points as the investigators. After this investigation, Microsoft had enough information to file a lawsuit. Because Gameest International Network Sales Co. is located in China, it has been very difficult to track down the perpetraitors behind this scam. At least iGSKY’s Paypal account used to transfer the stolen funds was shut down. Though, it doesn’t guarantee that they haven’t opened up another account. With a lawsuit on file in California, only time will tell if there will be any justice.