Slashdot Mirror

← Back to Stories (view on slashdot.org)

Hackers Steal $6.7M In Bank Cyber Heist

Posted by Soulskill on from the not-nearly-as-dramatic-as-a-regular-heist dept.

Orome1 writes "A perfectly planned and coordinated bank robbery was executed during the first three days of the new year in Johannesburg, and left the targeted South African Postbank — part of the nation's Post Office service — with a loss of some $6.7 million. The cyber gang behind the heist was obviously very well informed about the post office's IT systems, and began preparing the ground for the heist a few months before, by opening accounts in post offices across the country and compromising an employee computer in the Rustenburg Post Office."

2 of 91 comments (clear)

  1. Summary is wrong by Smallpond · · Score: 4, Informative

    42m Rand is not 6.7m USD, it is more like 5.2m.

    1. Re:Summary is wrong by Formalin · · Score: 4, Informative

      That's Zimbabwe. SA, while experiencing considerable inflation in the 90's, is reasonably stable now, and no where near the level of inflation in zimbabwe.

      1 rand used to be worth around 1 USD, IIRC (apartheid era). inflation went up with political change, and by around 2000? it was 10 or so to a dollar, and is something like 6-7 these days. So 50-100% some years, less overall, which is bad... but not hyperinflation, where prices double in days or hours, instead of years (like in zimbabwe).