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kiko (OP)
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June 25, 2011, 03:42:01 PM
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Losses from Citibank publicly acknowledged.
http://www.bloomberg.com/news/2011-06-24/citigroup-says-hackers-caused-2-7-million-of-losses-on-customers-cards.html
What I don't get is how this is news, credit card fraud is a billion dollar industry; why all the fuss over $2.7million?
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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GimEEE
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June 25, 2011, 03:48:40 PM
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that's just play money though, not the real stuff.
The only way to make sure people you agree with can speak is to support the rights of people you don't agree with.
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June 25, 2011, 03:48:59 PM
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The customers will be reimbursed, Sean Kevelighan, a spokesman for the New York-based bank, said in a phone interview today. It’s the first public acknowledgement by Citigroup that the incident resulted in any financial losses.
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June 25, 2011, 03:49:25 PM
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Quote from: kiko on June 25, 2011, 03:42:01 PM
Losses from Citibank publicly acknowledged.
http://www.bloomberg.com/news/2011-06-24/citigroup-says-hackers-caused-2-7-million-of-losses-on-customers-cards.html
What I don't get is how this is news, credit card fraud is a billion dollar industry; why all the fuss over $2.7million?

A million here a million there, it adds up. Most likely it's news because "Hackers" were involved. Media likes that type of thing.
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June 25, 2011, 03:58:02 PM
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This is news because it helps setting up an Internet kill switch.

"Hackers hacked a bank! Next time they will hack a powerplant! We need to be able to shut down the Internet!"
kiko (OP)
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June 25, 2011, 04:09:14 PM
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Quote from: ghyze on June 25, 2011, 03:58:02 PM
This is news because it helps setting up an Internet kill switch.

"Hackers hacked a bank! Next time they will hack a powerplant! We need to be able to shut down the Internet!"

I think you nailed it.
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