Hacker attack on Taiwanese financial institutes reveal security flaws

Hacker attack on Taiwan financial institutes online platforms shows need to shake up information security measures

Taiwan News
Date: 2017/02/07
By: Translated by Judy Lin, Taiwan News, Staff Writer

An anonymous hacker group’s attack on several financial institutes in Taiwan and its

This May 1, 2014 photo taken in Washington, DC shows a bitcoin medal. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. AFP PHOTO / Karen BLEIER

demand of payment to prevent further attacks last week has been the first case of its kind in the country’s financial industry, said a senior manager of a financial institute.

The hackers demanded Taiwanese financial institutes pay 10 Bitcoins, equivalent to US$10,466, or they would crash online their services with DDoS attacks, or infect their computer systems with an insidious Trojan Horse virus.

Taiwan’s Financial Supervision Commission (FSC) confirmed several financial institutions in Taiwan including Yuanta Securities, KGI Securities, and Masterlink Securities all received threats from the hacker group.    [FULL  STORY]

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