Hackers Target Ukrainian Bank, Steal $10 Mil over SWIFT. From NewsBTC.
The banks now have an urgent need for blockchain based fund transfer solutions, as the conventional systems are being frequently compromised. The SWIFT network, which is widely used by the banks across the world for electronic fund transfers has been affected by multiple hacking attacks till date, resulting in huge loss of funds. After the recent hacking incident where hackers stole money belonging to the Central Bank of Bangladesh from US Federal Reserve, a Ukrainian bank has become the target of hackers. According to reports, an unnamed Ukrainian bank has lost about $10 million after the hackers gained entry into the bank’s computer systems. The money was then transferred from the bank to offshore accounts using SWIFT’s inter-bank transfer system.