ORX News digest of the month – May 2018
- 11 June 2018
Every month the ORX News team publishes a featured digest from the ORX News Service. It's a detailed look at one of the losses reported in the media that month, and is handpicked by the team as one of the most interesting stories.
May's digest summary:
The data of around 90,000 customers of Bank of Montreal and CIBC’s Simplii Financial has allegedly been stolen by hackers and is being held for a ransom of $1m, which is to be paid in the cryptocurrency Ripple. The hackers claimed they used an algorithm to gain partial access to customer accounts, allowing them to pose as customers who had forgotten their passwords and from there change security questions to gain full access. The data includes names, account numbers, passwords, social security numbers and account balances.