Samsung LoopPay Hacked, but 'Samsung Pay' is Safe
Oct 09, 2015
Samsung has been surrounded by a lot of controversies since the past few years, but that has not influenced its productivity. But this report has raised a few eyebrows... Samsung's mobile payment system company, LoopPay , was hacked back in March this year, just a month after Samsung bought it to help make Samsung Pay a reality. Samsung acquired LoopPay for more than $250 Million in February this year, and a group of Chinese Hackers were able to access LoopPay computer systems in March. The most worrisome part is – the hack was discovered 5 months later in August . Hackers were After Technology; Not Money or Sensitive Data The hackers, believed to be from a group called ' Codoso Group ' or ' Sunshock Group ,' were after the company's Magnetic Secure Transmission (MST) Technology . The group injected LoopPay's computer network with a hidden sophisticated attack in March, but the investigation kicked off when LoopPay learned of...
