Microsoft has told VG247 that security for Xbox Live is of “utmost importance,” following a story in The Sun today that phishing schemes have cost 360 gamers “millions of pounds”.

The Sun reported this morning that “online crooks have hacked into thousands of Xbox Live accounts to steal millions of pounds. The average loss to gamers in the UK is around £100 — but many have had more than £200 stolen.”

Microsoft has responded, saying its taking measures against criminality on 360’s online service, and warned Live users to be vigilant.

“Xbox LIVE has not been hacked. Microsoft can confirm that there has been no breach to the security of our Xbox LIVE service. The security of Xbox Live members is of the utmost importance, which is why we consistently take measures to protect Xbox Live against ever-changing threats,” the firm told VG247 in a statement.

“In this case, a number of Xbox Live members appear to have recently been victim of malicious ‘phishing’ scams (i.e. online attempts to acquire personal information such as passwords, user names and credit card details by purporting to be a legitimate company or person).

“As a result, we are currently:

Working closely with affected members who have been in touch with us to investigate and/or resolve any unauthorized changes to their accounts resulting from phishing scams;

Warning people against opening unsolicited e-mails which may contain spyware and other malware that can access personal information contained on their computer without their knowledge or permission;

Reminding all customers that they should be very careful to keep all personal information secure whenever online and never supply e-mail addresses, passwords or credit card information to strangers.

“Microsoft remains vigilant at all times regarding the security of Xbox Live customers. As always, Xbox Live customers who have any queries or concerns should contact Xbox Live customer service on 0800 587 1102 or visit www.xbox.com/security.”

Microsoft had denied back in October a full compromise of the service, but admitted there was “unauthorised” access to certain accounts following a report which suggested that hackers gained access to their Gamertags, noticeable by buying MS points and playing FIFA 12 on their Gamercard.