Massive bank cyberattack planned

Thursday, December 13, 2012
By Paul Martin

By David Goldman
Money.CNN.com
December 13, 2012

Security firm McAfee on Thursday released a report warning that a massive cyberattack on 30 U.S. banks has been planned, with the goal of stealing millions of dollars from consumers’ bank accounts.

RSA startled the security world with its announcement that a gang of cybercriminals had developed a sophisticated Trojan aimed at funneling money out of bank accounts from Chase (JPM, Fortune 500), Citibank (C, Fortune 500), Wells Fargo (WFC, Fortune 500), eBay (EBAY, Fortune 500) subsidiary PayPal and dozens of other large banks. Known as “Project Blitzkrieg,” the plan has been successfully tested on at least 300 guinea pig bank accounts in the United States, and the crime ring had plans to launch its attack in full force in the spring of 2013, according to McAfee, a unit of Intel (INTC, Fortune 500). (McAfee was founded by John McAfee, who is wanted for questioning as part of a Belize murder investigation, but he no longer has any ties to the company.)

Project Blitzkrieg began with a massive cybercriminal recruiting campaign, promising each recruit of a share of the stolen funds in exchange for their hacking ability and busywork. With the backing of two Russian cybercriminals, including a prominent cyber mafia leader nicknamed “NSD,” the recruits were tasked with infecting U.S. computers with a particular strain of malware, cloning the computers, entering stolen usernames and passwords, and transferring funds out of those users’ accounts.

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