JP Morgan Chase fights 45 billion hack attempts a day.

[WhyFhy]

And they spend a good bit on on it too. 15 Billion a year on 62,000 "technologist"
It's always a cat and mouse game but damn..that's absolutely insane and relentless.


https://finance.yahoo.com/news/jpmorgan-chase-fights-off-45-211618309.html

Fiat doesn't feel safe, specially after reading that 😂

[cakravothy]

fiat currency is stored in a bank where it is vulnerable to theft until it accumulates sufficiently.
Generally, the banking system is already quite secure as long as the user does not make mistakes and makes it easier for hackers to steal your money.
Although fiat currency is said to be less secure than all transactions require fiat money.
Say you are looking for coins in the end, since you will also exchange your coins for fiat and deposit them into your bank account.

[Poker Player]

The figure is certainly shocking. Much more than I could have imagined. But in an increasingly digital world where money is increasingly digital it makes sense. We have seen on the forum that criminals are getting more and more sophisticated at scamming cryptocurrencies and committing crimes to get them (such as hacks or kidnappings). It also makes sense that they try to hack large institutions like this, as the loot is very juicy.

It is worth thinking about what would happen if they succeeded.

[franky1]

45 billion hack attempts.. or

500 separate devices doing 1000 attempts a second

math
500,000/sec
30m a min
1.8b a hour
43.2b a day

is it really 43b hack attempts or just 500 separate bruteforce sessions

[Kakmakr]

I can bet you that the majority of those attacks are coming from government sanctioned orders. (North Korean and Russian hackers)

The rest of those hacking attempts come from JP Morgan's competitors and enemies. They are the fat cat on the hill, that needs to be brought down to earth.

Bankers have shown the world how evil they are and how they can destroy everything within days, if they wanted to. Their ruthless actions nearly destroyed the global economy and when they failed, governments jumped in with tax payers money to bail them out.

Now they have to use the people's money again to protect them from the haters.

I do not feel sorry for them, I hope it eats up most of their over inflated salaries and bonusses.

[naira]

I can bet you that the majority of those attacks are coming from government sanctioned orders. (North Korean and Russian hackers)

The rest of those hacking attempts come from JP Morgan's competitors and enemies. They are the fat cat on the hill, that needs to be brought down to earth.

Bankers have shown the world how evil they are and how they can destroy everything within days, if they wanted to. Their ruthless actions nearly destroyed the global economy and when they failed, governments jumped in with tax payers money to bail them out.

Now they have to use the people's money again to protect them from the haters.

I do not feel sorry for them, I hope it eats up most of their over inflated salaries and bonusses.

Hacking based on business competition makes a lot more sense and I agree that it potentially does want the JP Morgan company to go bankrupt. Therefore I think it is an obligation for him to continue to maintain the system so that it remains safe from acts of exploitation. Government funded hackers aim to exploit the imbalance of their opponents, fueling business competition to continue to be the most unstoppable. Meanwhile several percent more behind the hack are indicated by groups that are acting alone and who know very well that the huge finances at JP Morgan have triggered every hacker to take part.

[Fiatless]

Fiat doesn't feel safe, specially after reading that 😂

62,000 cybercrime fighters to repel attacks, that's outrageous. These cybercriminals have created a lot of jobs for technologists . This is clear proof that the claim that fiat is safe is clearly false. These platforms will always have something to blame just to cover up their security lapses. Now they are claiming that these attacks were carried out by Russia as a retaliation for sanctions placed on them by the West. I wonder how they came to such conclusions.

But I subscribe to the fact that the increase in the development of artificial intelligence will be a main catalyst for this hack attempt. Cybercrime will keep increasing because these criminal actors are becoming smarter and more technologically inclined. I prefer to be responsible for the security of my funds than to put it in the hands of strangers.

[Iroh]

Staggering figures involved in all of this. 45 BILLION hack attempts a day. That’s an insane amount of hack attempts a company would have to deal with and on a daily basis too. These guys are sure relentless in their efforts to get their stubby hands on some of the huge chunk of bread the company has.
Like the rep said, “they have to”. They’ve recognized that they need to be literally on guard against hack attempts  that are ever changing. 15 billion invested yearly on defenses against cyber attacks is a huge sum but apparently worth it.

It’s not just fiat that’s not safe. Thieves would always seek out to steal from someone else, whatever has value.

[Wind_FURY]

JP Morgan Chase fights 45 billion hack attempts a day.

But does that truly matter? It will probably be an inconvenience, but because their ledgers have only one validator, or a federation of validators which actually works for one entity, they will merely roll back the ledger, patch their software, and it would like the hack didn't exist.

Plus they also control all of the financial rails and they could simply freeze any amount of money, then send them back to their vaults.

[Kelward]

And they spend a good bit on on it too. 15 Billion a year on 62,000 "technologist"
It's always a cat and mouse game but damn..that's absolutely insane and relentless.


https://finance.yahoo.com/news/jpmorgan-chase-fights-off-45-211618309.html

Fiat doesn't feel safe, specially after reading that 😂

This is serious, spending billions to protect billions, I guess that their technologists will be happy about these hack attempts so their jobs gets valued and they get to keep it as long as cybercrime is still in existence. 15 billion budget a year to protect against hacks, I think that top hackers will even be happy to work for them and earn legitimately to protect the system against themselves.

It goes to show that scams and hacks are not immune to the banking system, because they'd love to label only crypto as the home to scams and hacks. Every financial transactions online can be a target of hacks and scams, either crypto or fiat.

[WhyFhy]

And they spend a good bit on on it too. 15 Billion a year on 62,000 "technologist"
It's always a cat and mouse game but damn..that's absolutely insane and relentless.


https://finance.yahoo.com/news/jpmorgan-chase-fights-off-45-211618309.html

Fiat doesn't feel safe, specially after reading that 😂

This is serious, spending billions to protect billions, I guess that their technologists will be happy about these hack attempts so their jobs gets valued and they get to keep it as long as cybercrime is still in existence. 15 billion budget a year to protect against hacks, I think that top hackers will even be happy to work for them and earn legitimately to protect the system against themselves.

It goes to show that scams and hacks are not immune to the banking system, because they'd love to label only crypto as the home to scams and hacks. Every financial transactions online can be a target of hacks and scams, either crypto or fiat.

right like franky1 said it's probably a few people utilizing multiple vectors.
There's a harsh truth to this though. Odds are those bad actors can't be employed for various reasons or their applications where discarded by an ats. Or even ZD submittals falling on deaf ears and blind eyes. Or they are government sponsored.
Government sponsored seems to be the most viable theory on who's attempting this. an average hack/injection attempt on sites I've managed seemed to be about 12,000-18,000 attempts p/try/single hacker attempt. If your server can hold up these attacks generally don't last but a few mins at most. I saw pretty crazy shit running 1splitkey, apparently the SC behind the distributed computing workaround system was highly desirable.
But there's plenty of black hat hackers that never even finished highschool. Ever notice the "bad guys" in press on digital crimes usually get offered a job?

[avikz]

Both Fiat and cryptocurrencies are prone to hacking. With global slow down of economy and millions of job cards from major tech giants, what else can we expect! It's unfortunate that hacking activities are increasing, but the benefit of centralised banking system is that, hak Money can be tracked and can be credited to its rightful owner. That is not possible with cryptocurrencies. Probably that is a down side of a decentralized economy.

So neither your Fiat nor your cryptocurrencies are safe if you do not know how to keep it safe. It's a Flawed argument to prove decentralized ecosystem is better than the centralized one.

[philipma1957]

I have chase accounts.

They routinely go offline.

I suspect that hacking occurs a lot.

CC for sure.

They hacked my wife's card in 2012 with hurricane sandy.  A 3000 usd charge for a new furnace. They fixed the hacked card in a day.

[ChiBitCTy]

I find this number a bit amusing as it almost matches the amount of financial fraud violations JP Morgan Chase has had since the year 2000- https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  As you can see, they've had nearly 40 BILLION dollars in fraud violations since just the year 2000.   I wish they did get hacked and got a taste of their own medicine.  Just two more reasons to hate the big banks.

[kentrolla]

Is this for real? The number looks way too much and this just shows the vulnerability of the fund we store in the banks and with emergence of new technologies and AI we though it would make our life easier but it's actually benefiting the scammers and hackers. Just imagine the number of people who would have already lost good amount of money because we often see news like people are losing money online and this is not only related to bank in general we need to be extra cautious and should ensure we don't click any malicious links and every organization especially banks should be on their toe to combat these attacks and further educate the customers on safeguarding the account.

[electronicash]

I can bet you that the majority of those attacks are coming from government sanctioned orders. (North Korean and Russian hackers)

The rest of those hacking attempts come from JP Morgan's competitors and enemies. They are the fat cat on the hill, that needs to be brought down to earth.

Bankers have shown the world how evil they are and how they can destroy everything within days, if they wanted to. Their ruthless actions nearly destroyed the global economy and when they failed, governments jumped in with tax payers money to bail them out.

Now they have to use the people's money again to protect them from the haters.

I do not feel sorry for them, I hope it eats up most of their over inflated salaries and bonusses.

it's starting to feel like "Leave the World Behind" movie"
but if they have invested in google and probably owns google themselves, Jaaime is one of the world powerful people i say they control Google, they see more data than the Russian and Nokorean hackers. They don't even need to hack to get more data.

I find this number a bit amusing as it almost matches the amount of financial fraud violations JP Morgan Chase has had since the year 2000- https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase .  As you can see, they've had nearly 40 BILLION dollars in fraud violations since just the year 2000.   I wish they did get hacked and got a taste of their own medicine.  Just two more reasons to hate the big banks.

they will exploit that hack and steal more money. the rich people today will beg them and Jaime will replace their money with CBDC money.

[South Park]

Is this for real? The number looks way too much and this just shows the vulnerability of the fund we store in the banks and with emergence of new technologies and AI we though it would make our life easier but it's actually benefiting the scammers and hackers. Just imagine the number of people who would have already lost good amount of money because we often see news like people are losing money online and this is not only related to bank in general we need to be extra cautious and should ensure we don't click any malicious links and every organization especially banks should be on their toe to combat these attacks and further educate the customers on safeguarding the account.

That number should show to everyone the reality of the situation, the threats out there are way bigger than many of us imagined, and that number is only what Morgan Chase has to face everyday, if we were to add all the attacks that happen all around the world we will get a massive number, it is because of this that we need to be extremely cautious with how we store our coins, since a single mistake can be enough for us to lose all the coins that we are currently holding.

[Fortify]

And they spend a good bit on on it too. 15 Billion a year on 62,000 "technologist"
It's always a cat and mouse game but damn..that's absolutely insane and relentless.


https://finance.yahoo.com/news/jpmorgan-chase-fights-off-45-211618309.html

Fiat doesn't feel safe, specially after reading that 😂

It's all about framing and a manipulated narrative. Every single website and port out there is under constant attack from malicious hacking attempts. A hack attempt could be as classified light as accessing an invalid URL or tens of thousands of ports associated to one server, but it doesn't mean that they have the slightest bit of success. The fact that they are able to track some numbers, instead of breeding fear in you, gives me some confidence that their measures are effective - just because there is so many doesn't mean anything. You could also class attempted denial of service attacks, or even supposedly rogue IP's, trying to take up resources as an attack, but they do very little with proper mitigation. This is what every website faces every day and is nothing new.

[WhyFhy]

And they spend a good bit on on it too. 15 Billion a year on 62,000 "technologist"
It's always a cat and mouse game but damn..that's absolutely insane and relentless.


https://finance.yahoo.com/news/jpmorgan-chase-fights-off-45-211618309.html

Fiat doesn't feel safe, specially after reading that 😂

This is serious, spending billions to protect billions, I guess that their technologists will be happy about these hack attempts so their jobs gets valued and they get to keep it as long as cybercrime is still in existence. 15 billion budget a year to protect against hacks, I think that top hackers will even be happy to work for them and earn legitimately to protect the system against themselves.

It goes to show that scams and hacks are not immune to the banking system, because they'd love to label only crypto as the home to scams and hacks. Every financial transactions online can be a target of hacks and scams, either crypto or fiat.

right like franky1 said it's probably a few people utilizing multiple vectors.
There's a harsh truth to this though. Odds are those bad actors can't be employed for various reasons or their applications where discarded by an ats. Or even ZD submittals falling on deaf ears and blind eyes. Or they are government sponsored.
Government sponsored seems to be the most viable theory on who's attempting this. an average hack/injection attempt on sites I've managed seemed to be about 12,000-18,000 attempts p/try/single hacker attempt. If your server can hold up these attacks generally don't last but a few mins at most. I saw pretty crazy shit running 1splitkey, apparently the SC behind the distributed computing workaround system was highly desirable.
But there's plenty of black hat hackers that never even finished highschool. Ever notice the "bad guys" in press on digital crimes usually get offered a job?

Well well .. https://news.clearancejobs.com/2024/01/18/national-cyber-director-wants-to-address-cybersecurity-talent-shortage-by-removing-degree-requirement/

Guess someone's listening.... Always listening.

[mindrust]

I do not feel sorry for them, I hope it eats up most of their over inflated salaries and bonusses.

That’s not how it works. They will pass the expenses on their customers. That’s what business owners do. When the gov raise the taxes on a certain product, the manufacturer doesn’t keep the price the same. They add the tax to the original price. So if JPM spends extra money on security, their customers will pay for it. JPM ain’t paying shit.

Have you ever noticed why a glass of beer is way more expensive in some areas of the city while it is dirt cheap in some other places? (Like the suburbs) It is because people pay a lot more for their rent if their business is in the city center. They serve the same beer but one of them charges $10, the other charges $5.