Hackers Steal $31 Million at Russia's Central Bank (cnn.com)
The Bank of Russia has confirmed Friday that hackers have stolen 2 billion rubles ($31 million) from correspondent accounts at the Russian central bank. Central bank security executive Artiom Sychev said it could've been much worse as hackers tried to steal 5 billion rubles, but the central banking authority managed to stop them. CNNMoney reports: Hackers also targeted the private banks and stole cash from their clients, the central bank reported. The central bank did not say when the heist occurred or how hackers moved the funds. But so far, the attack bears some similarity to a recent string of heists that has targeted the worldwide financial system. Researchers at the cybersecurity firm Symantec have concluded that the global banking system has been under sustained attack from a sophisticated group -- dubbed "Lazarus" -- that has been linked to North Korea. But it's unclear who has attacked Russian banks this time around. Earlier Friday, the Russian government claimed it had foiled an attempt to erode public confidence in its financial system. Russian's top law enforcement agency, the FSB, said hackers were planning to use a collection of computer servers in the Netherlands to attack Russian banks. Typically, hackers use this kind of infrastructure to launch a "denial of service" attack, which disrupts websites and business operations by flooding a target with data. The FSB said hackers also planned to spread fake news about Russian banks, sending mass text messages and publishing stories on social media questioning their financial stability and licenses to operate.
Hackers Steal $31 Million From at Russia's Central Bank
Doesn't sound right, or does it?
Emphasis mine.
I don't trust anything from their site anymore. I'm going to see what RT has to say about this... Oh the irony!
That this wasn't done by Putin. Call it a conspiracy theory but the guy is dirtier than dirt.
And now he has a reason to invade the netherlands... or something suitably nasty.
Jill Stein's campaign announces a 27 million dollar donation for recounts in additional states.
Serious question: In Debt of Honor there was a hack directed against the NYSE. They rolled back all transactions for the day. In a bank hack no one took physical cash. If they can show the transactions were fraudulent, why can't they just reverse it?
Nope, no sig
Dead men walking! Get a good last look at these hackers, here - they're dead men walking!
No one loses. No harm, no foul. Track the $31 million in rubles if you can. Money need not be so scarce that it incentivizes theft.
are belong to US.
Like HRC scorned.
...if they were using bitcoin
Seems entirely relevant
Hanlon's Razor -- Never attribute to malice that which is adequately explained by stupidity.
is on.
Sheesh, evil *and* a jerk. -- Jade
some spending money.
Party On Ed!!
2008 Wallstreet bank crash was how many $Trillion to cover those fake mortgage assets?
Madoff stole $65 *BILLION* with his ponzi scheme. Investors putting money into fake inflated assets, with costs being paid out of their capital till.
These Russian hacks are pocket change.
If Madoff had been elected President, he'd have gotten away with it too. He could have cooked up deals to turn his fake assets into real dollars, pardoned his children for their involvement when he left, and walked away with a smirk on his orange face, wondering how on earth people could be so gullible they didn't even read the publicly disclosed accounts! Yes... Madoff would have done that.
Would also have street-teams around Europe waiting to withdraw as much of the cash as they could.
Like they already have done in other cases like this.
Nah, I'm sure you're smarter than them.
Well the good thing is since the ruble is worth so little 2 billion rubles will be barely missed.
Serious question: Surely transferring money leaves audit trails? One account is debited while the other is credited.
Does this not leave a record that can be traced?
It's just numbers on a spreadsheet. The Bank of Russia is Russia's central bank and there is literally no amount of money you can steal from a central bank that will harm it. That's because they're the people who issue the fiat in "fiat currency".
The harm is to the economy as a whole, in the form of inflation. In this case we're talking about the release of thirty one million spurious extra bucks into a two trillion dollar economy. Just a tiny bit of inflation, diluted to homeopathic concentrations and applied to everyone who uses rubles.
Of course the bank has to pursue this because it undermines confidence in the system, but this is as close to a victimless crime as any illegal way of obtaining thirty-one million dollars can be.
Post may contain irony: discontinue use if experiencing mood swings, nausea or elevated blood pressure.
The Russians did it.
http://www.perrymehrling.com/2015/06/why-is-money-difficult/
What is the point of throttling my comment rate, so I have to wait 6 minutes before I can correct an omission in the previous post? What is the point?!?
You assume the quantity theory of money with a constant velocity. But the quantity theory of money is not supported by empirical measurements. The quantity theory of money predicted hyperinflation due to the Fed's QE. No such hyperinflation was observed. The quantity theory of money is false. Intellectual honesty demands you stop predicting inflation as a result of money creation because the model has failed so many times.
no russia has been publizised massively.
I assume that thirty one million dollars in a two-trillion dollar economy won't be noticed by anyone -- except, obviously, the people enjoying it.
Post may contain irony: discontinue use if experiencing mood swings, nausea or elevated blood pressure.
during the cold war you would hear all about russian spys and other things but nothing about american inititaves does that mean theres was none?
But we all know it was 2147483647 rubles, don't we...
hehe haha hoho its the fbi doing it.....
Q: Why is starting a comment in the Subject: field incredibly irritating?
Shutting down free speech with violence isn't fighting fascism. It IS fascism!
Everytime I read a story like this I wonder where the money goes. It seems absurd that the money gets transferred electronically to an account and then disappears. Surely the government can identify the bank accounts involve and follow the money.
i love hackers but don't know a little bit?
really possible hacker stole money in bank?
i cannot believe that hacker do that
http://smugfashion.com
It takes some serious cajones to steal from the most powerful kleptocracy on the planet. You would be better off trying to pickpocket a mob boss.
the clown war has.
Escher was the first MC and Giger invented the HR department.
Russia's been one of the biggest sources of hackers, Internet attacks, online fraud, credit card theft, and the like for years now, and they've done damn all about it.
Serves the bastiges right.
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u're welcome