Hackers posted online on the dark web of having discovered vulnerabilities in the servers of Tesco Bank many months before the Bank was actually robbed of £2.5m by hackers.

Cyberint the company that does cyber security research claims to have come across posting in dark web forums by hackers of claiming that the bank is a “cash milking cow” and “easy to cash out”. However, the bank has refused to link the two events or clarify further on the robbery as investigations are ongoing.

Meanwhile, the Sunday Times mentioned about the vulnerability in the use of smartphone based contact less payments as the reason for the attack.

Something the Bank seems to be have been warned of earlier by another security team regarding their mobile apps but apparently ignored by the bank. The story was first revealed by the Financial Times  about the private probe by Cyberint of hidden links following the attack over the weekend in 5-6 November.

The Israeli security company claims though the Bank had its cyber defenses up and running the hackers still managed to get through and get away with the money as suggested by the posts on dark web forums such as AlphaBay among others with one poster claiming to steal £1,000 every week without being noticed. That begs the question how to secure a cash less society now that many countries are planning to do away with hard currency.

Source: Geograph

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"Founded in July, 2016, WhackHack.com is a cyber security blog that covers important security issues affecting common users, industry and governments. It aims to create awareness among its readers about malware, hacking, encryption, identity theft, privacy, etc and also offer solutions to protect themselves from such attacks"

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