Russian hacker group targetting largest EU banks

Russia’s central bank and the government are working together to fight banking hacker group Buhtrap.

An official spokesman of Xenia Yudaeva, the first Deputy Chairman of the Russian Central Bank, told SCMagazineUK.com that the hacker group uses sophisticated cyber-attacks, the most recent of which allowed it to steal about RUB 600 million £6.3 million) from Metallinvestbank, one of Russia’s largest banks.   Continue reading

A Cyberattack Has Caused Confirmed Physical Damage for the Second Time Ever

Amid all the noise the Sony hack generated over the holidays, a far more troubling cyber attack was largely lost in the chaos. Unless you follow security news closely, you likely missed it.

I’m referring to the revelation, in a German report released just before Christmas (.pdf), that hackers had struck an unnamed steel mill in Germany. They did so by manipulating and disrupting control systems to such a degree that a blast furnace could not be properly shut down, resulting in “massive”—though unspecified—damage. Continue reading