Source: National Cyber Security – Produced By Gregory Evans
LoopPay, the technology acquired by Samsung in its bid to differentiate itself from Apple Pay, was reportedly breached months ago by a Chinese hacking group looking to replicate its technology, Samsung has confirmed. The LoopPay network is physically separate from Samsung Pay, according to Samsung, and neither the phone-based payment service, nor any customer records of the service were impacted by the breach. Multiple reports suggest the breach, believed to be conducted by a China-based hacking group known as Codoso Group or Sunshock Group, was cyber espionage aimed at collecting information on the company’s technology and intellectual property rather than a cyber theft aimed at stealing data and consumer information for accessing payment accounts. Cyber espionage has been a hallmark of the Codoso hacking group. In fact, in February it was reported that the group had breached Forbes and other targets last December with capturing intellectual property as its objective once again. “These guys don’t typically just put drive-bys anywhere. They don’t want anybody’s information,” John Hultquist, senior manager of cyber espionage threat intelligence for iSight, told the site Dark Reading back in January in relation to the breaches on Forbes and others. “What they want is information associated with […]
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