Fri. Jul 10th, 2020

Cosmos Bank of India was attacked, hackers stole Rs 94 crore

1 min read

In a recent major cyber attack, hackers stole Rs 94 crore (1 crore rupees = $142,045.50) through an ATM switch server that invaded the “Cosmos Bank” in Pune, India, and hackers took the details of multiple Visa and Rupay debit card owners. This information was used to execute approximately 12,000 transactions valued at Rs 78 crore. Similarly, 2,800 transactions were conducted in other parts of the country, of which Rs 80 lakh were stolen.

In another transaction, funds were sent to Hansen Bank in Hong Kong. The operation was conducted on behalf of a company called ALM Trading Limited. The beneficiary received Rs 12 crore. The total amount of stolen Indian banks is about Rs 94 crore. Cosmos Bank chairman Milind Kale said, “The attack may have originated from Canada, where many of the transactions were conducted, according to bank officials who asked not to be identified.”

Because these hackers stole 9.4 billion rupees from the sizeable cosmic bank in Pune, India, Cosmos Bank has filed a lawsuit against the unknown hackers group for alleged malware attacks on its servers. The Pune police commissioner K Venkatesham said experts from the Mumbai police and the local cyber crime investigation team had initiated investigations.“We have sought more details, especially technical details of logs from the bank. We are in constant touch with our headquarters and briefing them about the case,” he said.

Via: Hindustan times