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Carbon Trading Halted After EU Exchange Is Hacked
chicksdaddy writes "The European Commission (EC) suspended trading in carbon credits on Wednesday after unknown hackers compromised the accounts of Czech traders and siphoned off around $38 million, Threatpost reports. EU countries including Estonia, Austria, The Czech Republic, Poland and France began closing their carbon trading registries yesterday after learning that carbon allowances had been siphoned from the account of the Czech based register. A notice posted on the Web site of the Czech based registry said that it was 'not accessible for technical reasons' on Thursday and the EC issued an order to cease spot trading until January 26 so that it can sort out what appears to be chronic security lapses within the system."
How does one liquidate siphoned carbon credits? Do they hold a black market value?
Laugh while you can, monkey-boy.
I'm surprised people/companies were actually seriously putting any type of serious money into this crap.
Are there some countries that are actually mandating carbon credits, etc? I mean, if not by law, why would anyone take part in this scam, unless they were on the money making side?
Light travels faster than sound. This is why some people appear bright until you hear them speak.........
I mean, if not by law, why would anyone take part in this scam, unless they were on the money making side?
Guilt? Good public relations? There are plenty of reasons. Penn and Teller did a decent episode on it - they exposed some of the "carbon credit" companies for the scams that they are, and they also sent out a woman to randomly approach people doing their shopping, "assess" their purchases for carbon emissions (by randomly throwing out numbers) and then ask them to pay for the environmental damage. Most people seemed glad to fork over the cash.