Games giant Valve has denied reporting that there has been a massive hack of Steam account data. 

In a post on its website, the company said that reports of leaked two-factor authentication text messages did not represent a breach of its internal systems. 

"We’re still digging into the source of the leak, which is compounded by the fact that any SMS messages are unencrypted in transit, and routed through multiple providers on the way to your phone," Valve wrote. 

"The leak consisted of older text messages that included one-time codes that were only valid for 15-minute time frames and the phone numbers they were sent to. The leaked data did not associate the phone numbers with a Steam account, password information, payment information or other personal data. Old text messages cannot be used to breach the security of your Steam account, and whenever a code is used to change your Steam email or password using SMS, you will receive a confirmation via email and/or Steam secure messages." 

This follows allegations made by Underdark.ai on LinkedIn, which claimed that a bad actor was selling a data set of more than 89 million Steam user records. That's 67.4 per cent of the platform's reported 132 million total users. 

The red flag for this being a load of nonsense is the fact that it is being sold for... $5,000. Like. Come on. That is so little. That's less than $1 per user. Hackers need to have a better understanding of their worth.