this post was submitted on 06 Feb 2024
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What kind of company let's a single employee transfer that amount of money without multiple different password entries or checks from different people though, seriously?
Doesn't matter if they had a conference call with what appeared to be certain people as the article says they could easily have used key pair verification such as pgp. Sounds like poor security all around especially considering the amounts involved.
Somewhere I worked the CEOs email got hacked and they asked the head of finance to change the bank account details for a 100k payment that was due to go out.
Luckily they thought to double check with them. But it came really close to happening.
This all happened via a phishing email.
Social engineering is how most hacks happen. Doesn't matter what protection you put in place. People are always the weakest link.