They Almost Stole $1 Billion, If Not For a Typo🎙Darknet Diaries Ep. 72: Bangladesh Bank Heist

The Bangladesh Bank Heist: How Hackers Almost Stole $1 Billion Without a Single Shot
In 2016, the world was shocked by the largest bank heist in history - the Bangladesh Bank Heist. What was even more shocking was the fact that the heist was not carried out with guns, masks or threats, but with a few computer keystrokes. In this article, we will delve into the details of how the hackers managed to steal almost $1 billion from the Bangladesh Bank without leaving a single trace.
The Attack
The Bangladesh Bank Heist was a sophisticated cyber attack that involved gaining access to the bank's computer systems and transferring funds to accounts in the Philippines. The hackers used the SWIFT system, which is used by banks worldwide to transfer funds between accounts. The hackers had obtained the login credentials of the Bangladesh Bank employees responsible for authorizing SWIFT transactions, and used those credentials to transfer funds to accounts in the Philippines.
The hackers had initially planned to steal almost $1 billion, but a typo in one of the transactions led to a red flag being raised, which prevented the transfer of $850 million. The hackers still managed to steal $81 million, which was transferred to four accounts in the Philippines. The funds were then laundered through the Philippine casino industry, with only a small portion of the funds being recovered.
The Hackers
The identity of the hackers responsible for the Bangladesh Bank Heist is still unknown. However, investigators believe that the attack was carried out by a group of North Korean hackers known as Lazarus. Lazarus is a state-sponsored hacking group that has been linked to a number of high-profile attacks, including the Sony Pictures hack in 2014. The group is believed to be responsible for stealing billions of dollars from banks and financial institutions around the world.
The Aftermath
The Bangladesh Bank Heist was a wake-up call for the banking industry. It highlighted the vulnerability of the SWIFT system and the need for stronger cybersecurity measures to protect against cyber attacks. The incident led to a number of changes in the way that banks handle SWIFT transactions, including the introduction of two-factor authentication and stronger password requirements.
In conclusion, the Bangladesh Bank Heist was a stark reminder of the dangers of cyber attacks and the need for stronger cybersecurity measures. It was a reminder that even the most secure systems can be breached by determined hackers with the right skills and tools. The incident highlights the need for ongoing investment in cybersecurity, as well as the importance of training employees to be vigilant against cyber threats.
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