Brazilian Hackers Steal $3.75 Billion In World's Largest Cyberheist

Over the weekend, it was discovered that a group of Brazilian hackers compromised their nation’s second most popular digital payment method, Boleto Bancario, and made off with over 3.75 billion dollars, scoring perhaps the largest electronic theft in history.

Boleto, with its unique payment process that enables users to pay both online and offline, was responsible for around 18 percent of all transactions in Brazil in 2012.

RSA was the first to discover this threat. It has been billed by them as a “major fraud operation and a serious cybercrime threat to banks, merchants, and banking customers in Brazil.”

The cause?

“The man in the browser.”

Also known as a browser-based malware injection. After unwitting users had clicked on the unsolicited email links, the hackers gained access to their Boleto accounts and changed necessary information to gain more permanent access. This process continued for over two years.

You can read the full story here.

While users can protect themselves from malware by not opening unwarranted emails, companies like Boleto Bancario can protect themselves with more constant and precise monitoring, precisely the service AccelOps provides.

AccelOps helps companies keep track of network equipment, servers, applications, and network flow data to build a baseline for normal activity. When unusual behavior is seen due to a security issue like a hacker or malware, AccelOps software can quickly alert your organization so that you can take action before it’s too late.

Want to talk about how we can help you secure your network? Contact us. We’re here to help.