Sunday, April 3, 2016

Bangladesh Bank fund heist

Bangladesh Bank lost $101 millions from its forex reserve of Federal reserve bank of Neywork in February 2016. Its the biggest central bank's reserve fund heist and probably the first one set up by malware.

 5 orders and 2 destinations:
 Total 5 orders carried out from 35 orders by thehackers.
$20M traced to Sri Lanka (since recovered) and $81M to the Philippines. The international transfer desk of the intermediate bank, Deustche Bank, blocked a further $850 million in 35 transactions.

  The hacking procedure:
The hackers entered Bangladesh Bank's network system breaking their ancient firewalls in secret. Malwares are adept in hiding their existence from anything, operating systems can't recognize even latest anti-malware programs can't detect them. The hackers used those latest malwares [later its disclosed that the hackers got the malwares ordered to attack]