SWIFT Hacked Again: Are Centralized Networks Failing?

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SWIFT has confirmed another breach to its system in a statement issued to SWIFT’s customers on May 13th, 2016. The attack was executed using malware that mirrored the first hit to the network that resulted in the theft of $81 million USD being stolen from Bangladesh’s central bank.

Also read: Bruce Fenton to RT News: Bitcoin is Secure, Scalability Will Be Fixed

Another Bank is Breached

This time around, the attack was made on a commercial bank that was unnamed by SWIFT, and the malware that was used focused on the PDF reader used by customers to download bank statements. According to the report issued by SWIFT, the malware acts as a PDF reader that mimics the network’s legitimate software.

Once installed on an infected local machine, the Trojan PDF reader gains an icon and file description that matches legitimate software. When opening PDF files containing local reports of customer specific SWIFT confirmation messages, the Trojan will manipulate the PDF reports to remove traces of the fraudulent instructions.

SWIFTAlthough it remains unclear whether money was stolen with this recent hit, SWIFT did provide a more detailed analysis of the methods of attack for this incident

Read more ... source: TheBitcoinNews

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