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Tag: internet security

FBI Investigates Reported Theft of 1.2 Billion Passwords by Russian Gang

Steve Neavling
ticklethewire.com

The FBI is investigating an unprecedented theft of 1.2 billion passwords by a Russian crime ring, NBC News reports.

A security firm said it has recovered the Internet passwords and logins, which investigators say is the largest known collection of such stolen data.

The stolen information comes from 420,000 websites.

“The FBI is investigating the recently reported incident involving the potential compromise of numerous user names and passwords, and will provide additional information as the nature and scope of the incident becomes clearer,” agency spokesman Josh Campbell said Tuesday.

The cybercrime gang has been dubbed CyberVor.

FBI: Fed Reserve Employee Stole Computer Code

By Danny Fenster
ticklethewire.com

A New York computer programmer was arrested and charged with stealing proprietary software code this week, reports the website TechWorld.com. But the software he allegedly stole didn’t belong to just anyone; it belonged to the federal reserve.

Bo Zhang is charged with stealing software code, known as the Government-Wide Accounting and Reporting Program (GWA) from the Federal Reserve Bank of New York. The software handles a wide variety of government financial transactions, reports TechWorld.

“Bo Zhang was a contract employee assigned to the Federal Reserve Board of New York (FRBNY) to work on further developing a specific portion of the GWA’s source code which the United States has spent approximately £6.1 million ($9.5 million) to develop,” the FBI said in a statement. “In the summer of 2011, Zhang allegedly stole the GWA Code.”

To read more click here.