Microsoft does this because they're security scanning / checking all links in every Outlook email for known phishing and malware attacks. If Bing has not seen the web page before and it's not in the Bing dangerous web page index it first needs to check it to make a determination of if it's a phishing/malware page by scanning/indexing it before returning that outcome back to Outlook to flag the email as dangerous.
> Microsoft does this because they're security scanning / checking all links in every Outlook email for known phishing and malware attacks The problem with that is that the logic is broken. Microsoft cannot possibly know all phishing sites, especially for smaller things. By obfuscating the link the user can no longer verify it by themselves without clicking, but Microsoft will say it's safe. So the user is left with…
This webpage is safe.
to "bingbot" and serve the real page to everyone else.