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Hackers Steal 500K Euro from European Bank Featured Image

Hackers Steal 500K Euro from European Bank

by: Bryon Turcotte  /  June 26, 2014

According to a recent article published on the Computer Weekly website, security researchers at Kaspersky Lab recently discovered a breach at a European bank where hackers "drained_" approximately "_€500,000 from more than 190 customers_" accounts. According to the report, the theft, _codenamed "Luuuk" by Kaspersky, "_is believed to have been running for a week when the C&C server was discovered. According to the article,_" Kaspersky did not announce the bank's name but confirmed that "_amounts stolen ranged from €1,700 to €39,000._"

The article indicated that researchers at the security firm revealed that "_most of the victims were in Italy and Turkey_" according to the logs from the command and control (C&C) server the hackers used in the attack. The Computer Weekly report notes that "_the C&C server was shut down and wiped_" within two days of discovery. Unfortunately, Kaspersky feels that the "_shut down_" may be a "_change in infrastructure rather than the end of the operation._"

Kaspersky's principal security researcher Vicente Diaz was quoted in the article to say, "Soon after we detected this C&C server, we contacted the bank's security service and the law enforcement agencies, and submitted all our evidence to them\. " The research team believes, according to the_ article, that the attackers "_intercepted financial data and carried out fraudulent transactions_" immediately following the login of online bank customers using a technique known as "_man-in-the-browser\. " Diaz was also quoted in the_ article to say, "_On the C&C server we detected, there was no information as to which specific malware program was used in this campaign."

Read more about Kaspersky's research in the full article, learn about the impact of this type of breach, and what experts feel will be the next steps of attackers.

Written by Bryon Turcotte  /  June 26, 2014