Too much work, when they can just deploy the trojans and phish for accounts - the phishing emails are sadly very effective, considering how many teens and preteens play the game, and believe everything that pops up in the game or in their e-mail.
Spend some time in the WoW customer service forums, there's enough stupidity out there to provide the gold sellers accounts for years.
Also, I tend to think if they started cracking encryption, they're going to get attention from some very nasty people they don't want attention from, including their own government. That would put them into a whole new world, of laws, and black budget stuff. Our government uses the same stuff the Authenticator uses, and if it's cracked to steal video games, it's going to set off alarms all over the world.
Plus, if they were good enough to break the Authenticator, they would'nt be dabbling in stealing WoW accounts, ya know?
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