Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M
Summary: Hackers used phishing emails to breach The National Bank of Blacksburg twice in eight months, stealing more than $569,000 in May 2016 and $1,833,984 in January 2017 through hundreds of ATMs across North America. Forensics firms Foregenix and Verizon traced the tools and servers to Russian-based internet addresses, and Verizon concluded the same group was likely responsible for both intrusions, the second of which began with malware in a booby-trapped Microsoft Word document.
Why it matters: The bank is now suing Everest National Insurance, which determined both breaches were a single event covered only by a $50,000 debit card rider rather than its $8 million computer and electronic crime rider - a $2.4 million loss turning on how one policy defines a hacking incident.
Read the original at Krebs on Security ↗
- Topics
- Data Breaches
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