Banks are always a valuable target for internet criminals. Not just because they have rather weak security systems, but also due to the vast information they collect. One Chinese-owned bank in Liechtenstein is dealing with a rather unusual blackmailing attempt, as criminals demand them to pay 10% of all bank account balances in Bitcoin. Failure to do so would see customer details exposed to the public.
Not A Good Time For Valartis Bank Liechtenstein
News about the Valartis Bank Liechtenstein extortion broke this morning on Reuters. The vast majority of details are very difficult to come by, as the institution refuses to respond to media inquiries for the time being. We do know the bank has been breached by unknown assailants, who managed to obtain a ton of sensitive information regarding bank employees and customers.
What is rather intriguing is how this Chinese-owned Liechtenstein bank is servicing a lot of politicians, actors, and high net worth individuals, most of whom reside in Germany. While this does not mean people are moving their funds to a foreign bank so they can evade taxes, it is rather interesting to note. Moreover, the bank