Microsoft (NASDAQ:MSFT) and Coinbase Team Up to Stop Phishing Network

Tech giant Microsoft (MSFT) has a clear and vested interest in making sure its systems are safe to use. So it should surprise no one that it recently took a hand in taking down a large-scale phishing network known as EvilTokens. Microsoft’s efforts were backed up by Coinbase (COIN) , and now, our email is just a little safer for the effort. Investors were less than pleased, though, and sent Microsoft shares down modestly in Tuesday afternoon’s trading. Microsoft has posted a 1.5% loss in its price over the past year.

“A Do-It-Yourself Phishing Kit”

Fortune described just what it was EvilTokens was up to, and why Microsoft would likely take offense. The EvilTokens plan was to offer a “do-it-yourself phishing kit” that allowed users to turn Telegram into a phishing platform that would take Microsoft Outlook accounts and use them as fodder. The kit included “…an AI-powered analyst that mapped trusted relationships, identified who controlled payments, and flagged where fraud was most likely to succeed.”

Microsoft and Coinbase put their security teams to work on the problem, and ultimately, ended up with the arrest of two men allegedly involved with “…making articles for use in fraud and money laundering offenses…”

Ninja Theory Shut Down?

Meanwhile, Microsoft has more plans for Xbox layoffs, which is odd given that a whole new console generation is to start up in another year . But Microsoft’s attempts to sell off the Ninja Theory studio reportedly fell through, which may take that whole studio out of the running. Microsoft plans to lay off 268 staff members connected with Xbox as well.

The 268 layoffs, meanwhile, will focus on Halo Studios, along with other first-party studios, and “…the XGS management and central functions layer.” Microsoft has been paring back the console gaming operations for some time now, as it faces soaring costs and the very real possibility that some gamers may simply be priced out of the market at this point.

Is Microsoft a Buy, Hold or Sell?

Turning to Wall Street, analysts have a Strong Buy consensus rating on MSFT stock based on 33 Buys and two Holds assigned in the past three months, as indicated by the graphic below. The average MSFT price target of $571.72 per implies 15.09% upside potential.

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