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Former Microsoft employee exploited a glitch to make $2 million in cryptocurrency

Kvashuk, a former employee for Microsoft managed to steal more than two million in crypto before he was caught

July 03, 2021 / 06:30 PM IST
Kvashuk, a former employee for Microsoft managed to steal more than two million in crypto before he was caught

Kvashuk, a former employee for Microsoft managed to steal more than two million in crypto before he was caught

Some people think they can get away with anything, especially if the said 'thing' is a crime against an organisation too big to care. Well, organisations do care when their money is on the line.

That is what happened to Volodymyr Kvashuk, a former software engineer at Microsoft. One of his responsibilities was testing the company's e-commerce infrastructure and a flaw that he found helped him make millions in cryptocurrency.

As detailed by Bloomberg, Kvashuk was required to make purchases on the platform using fake accounts to account for any bugs or glitches that he may find and then report. He failed to report one of those and in fact, used the exploit for his own gain.

One of the glitches allowed him to generate a redeemable gift card code every time he performed a fake transaction. Instead of reporting the issue, Kvashuk used the glitch to generate and sell the codes to a third-party website advertising the prices sometimes at more than fifty percent off. He accumulated close to $2.8 million dollars in cryptocurrency from the sales and even faked tax forms that claimed the money he received was a gift.

Microsoft has fired Kvashuk and he is now convicted of 18 federal felonies and faces deportation back to Ukraine. Let this be a lesson, crime doesn't pay even if you think you have all the bases covered. There will always be a way to catch you.
Moneycontrol News
first published: Jul 3, 2021 06:30 pm

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