Fraud News

Hackers part of Armada Collective, says IT security specialist


PETALING JAYA: Hackers who incapacitated several local brokerage firms are believed to belong to the Armada Collective, according to IT security specialist LGMS.

It based this on the ransom e-mail it managed to obtain, although LGMS founder C.F. Fong said it could just be a group of copycat hackers, maybe even one operating from Malaysia.

The Armada Collective is reported to have been responsible for attacks on five Taiwanese brokerage firms in February and several financial institutions in Switzerland in 2015.

The attackers were demanding a ransom of 10 Bitcoins (worth RM110,500), said Fong.

“One of the ransom deadlines given by the hackers is July 13. If the broker fails to pay,…

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