Thursday, September 28, 2023
  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home News

Hackers Fail To Steal RM4.1 Billion Due To Typo

by Farhan
March 11, 2016
537
SHARES
Share on FacebookShare on Twitter

A group of hackers have failed to steal almost $1 billion (about RM4.1 billion) from the New York Federal Reserve due to a simple typo. The hackers targeted the Bangladesh central bank and stole credentials that would allow them to request money transfers.

Once the credentials were obtained, the Federal Reserve was bombarded by requests for fund transfers from Bangladesh Bank accounts to others located in the Philippines and Sri Lanka. However, the plan fell apart when the group misspelled the name of the Shalika Foundation. The hackers had entered “fandation”; indicating that they did not have the benefit of a spellchecker.

Commuters pass by the front of the Bangladesh central bank building in Dhaka

Interestingly, the Federal Reserve failed to notice the typo. Instead, it was flagged by Deutsche Bank; through which the funds were being routed. The German bank contacted its Bangladeshi counterparts for verification and were told that there is no such thing as the Shalika Foundation.

At the same time suspicions were raised at the New York Federal Reserve due to the large number of requests coming through its system.

Overall, between $850-870 million (about RM3.4-3.5 billion) was stopped from being transferred out of the bank account. However, the hackers still managed to get away with about $80 million (about RM327 million) before they were stopped.

The Bangladesh central bank believes that the funds have been moved to casinos in the Philippines. The Philippine Amusement and Gaming Corp has launched an investigation into the matter, but it is unlikely that the funds will be recovered.

[Source: Reuters]

What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0

Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news. 

Filed Under BankBank HackedHacker
Back to top
Share215Tweet134SendShare
No Result
View All Result

TRENDING THIS WEEK

  1. 1
    Telco

    Maxis, U Mobile, CelcomDigi Announce Their iPhone 15 Pre-Order Plans

  2. 2
    Fintech

    Report Claims Merchants Will Be Charged With Transaction Fees For Receiving DuitNow Payments Starting 1 November 2023

  3. 3
    Computing

    Major Windows 11 Update Coming 26 September; Here’s What’s New

  4. 4
    Wearables

    Xiaomi Watch 2 Pro, Smart Band 8 Land In Malaysia From RM199

  5. 5
    Mobile Phones

    Xiaomi 13T Series Now Official; Price Starts From RM1,799

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2023 VIJANDREN RAMADASS. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zone
    • Viewnet
    • Sri Computers
    • Startec
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2023 LOWYAT, LLC. ALL RIGHTS RESERVED.