Earlier today someone posted a fake 12 month Xbox Live code on twitter. There were rumors of people even selling this same code online. All this attention caught the eye of Xbox and Major Nelson. Major Nelson cleared up all the rumors by posting an update on reddit.com-
“A recent scam I’ve seen in the past few hours are people taking advantage of the code that was posted to Twitter that redeems as a 12 Month code. This code does not actually apply any gold to your account and the code never expires or appears as used. I would advise staying away from any third party sellers for the time being and if you are to get this code, WCGVB-P24CQ-C629T-7B9DY-X4W33, you have been scammed.
Edit #1: There are currently reports of bans being handed out, apparently these are being posted on Twitter, so I can not confirm if these are legitimate.]
Edit #2: The code has been removed and will now show an error upon redemption.
Edit #3:/u/MajorNelson has confirmed this was a code used for internal testing and that no bans are being given for”