It seems online gaming has become so popular, that now even thieves have taken notice.
14 year old Zach Grant learned this the hard way when he started chatting with "Mr. Lambourghini" on Xbox Live. The hacker offered him Microsoft points in exchange for an email address and password. Zach, who'd been "wanting [the points] for weeks" to use toward Xbox games, couldn't help but be tempted. The hacker baited this phishing scam by pressuring Zach with a time-limit, saying he had "like 20 minutes to get me an email address and password. I am not a hacker."
Most people would raise their suspicions when someone blatantly states "I am not [insert what they really are here]", but when you're 14 and your only access to money is limited through your parents, chances are you'll believe it.
As soon as he gave the information, the hacker wasted no time by charging around $500-worth to the card for online Microsoft goods. The family have no idea if they will see any of that money again, and as of yet Microsoft has not offered a solution on their end.
Despite this, Zach's mother doesn't blame him. She understands he simply was baited by a hacker and that's that.
While it should go without saying that you should always protect your online information for your consoles, it never hurts to be reminded. With that said, please remember to be aware and do not share, for it may cost you.