Quick, Look Over There: DDoS Diversions Result in Millions Stolen from US Banks

The most recent hack on at least three major banks involved “low-powered” DDoS attacks targeting wire payment switch systems. A wire payment switch system manages and executes wire transfers at banks. While the story is still developing on how exactly the hackers accessed wire transfers, it is known that DDoS attacks were used to divert the attention of bank security staff in order to gain access to the system.(more…)