Microsoft Denies Used Xbox Credit Card Hack

Microsoft is looking into allegations that credit card data can be retrieved off an XBox 360 even after the device has been (re)formatted. 

Researchers at Drexel University allege that even after restoring an Xbox 360 game console to factory settings, some personal data (including credit card information and billing information) is still stored on the HDD which can then be retrieved using some basic hacking tools.