Hackers Attack Hong Kong Banks, Demand Bitcoin Payments
In another update on hacking incidents putting bitcoin payments in a negative light, a group of banks in Hong Kong suffered a DDoS (distributed denial of service) attack and are being demanded for bitcoin payouts in exchange. The Bank of China and the Bank of East Asia reported this incident to the Hong Kong authorities who are already conducting investigations on the matter. News reports indicate that these financial institutions suffered website outages, as hackers overwhelmed the sites with traffic from multiple sources. This sparked irregular spikes in online traffic, forcing some of....
Related News
On May 9, an international group of hackers launched distributed denial of service (DDoS) attacks on two of the largest financial institutions in Hong Kong. Hong Kong police confirmed that they have received reports from the Bank of China and the Bank of East Asia claiming that the hackers demanded payments in bitcoin. "The two institutions later received emails demanding payments in bitcoins, or there would be another round of attacks," a spokesman said. According to The Standard Hong Kong, the hackers overwhelmed the websites of the two banks with traffic from multiple sources, causing....
Two of the largest Hong Kong banks were targeted with distributed denial of service (DDoS) attacks earlier this week by unknown parties demanding bitcoin ransoms. Regional newspaper The Standard reported that the Bank of China (Hong Kong) and the Bank of East Asia were hit by the attacks last weekend. A representative for Bank of China confirmed that the attack took place on 9th May, telling CoinDesk: "With our constant monitoring mechanism and contingency measures in place to ensure the security and operation of the Company's website, our services and customer information have not been....
Hong Kong is one of the most important financial centres of the world, but with limited space and high demand, property in Hong Kong has always been in short supply. Simplifying home ownership in Hong Kong is therefore a prime concern for the Hong Kong government, which has undertaken a number of measures in the last few years to make home ownership both affordable and easy. The Nikkei Asian Review reported that as recently as early November, the Hong Kong government raised stamp duty to cool down the boiling Hong Kong housing market. This measure of the government was mainly aimed at....
The FinTech market, particularly with blockchain technologies, is expected to flourish in Hong Kong in 2017 due to increased cooperation between Fintech and financial services firms, a KPMG report has claimed. In its “Hong Kong Banking Outlook 2017” [PDF] report, the services giant cites soaring investment in the Fintech sector leading to the “rapid” development of the Fintech industry in Hong Kong. Blockchain technology is proving to be of particular interest among Hong Kong banks, the report added, with its popularity in the payments and lending space. The innovation, which is bitcoin’s....
The Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals. The region’s central banking institution also stressed that it’s going to “walk the talk” by digitalizing its own supervision of financial institutions. Hong Kong Central Bank to Support Fintech Development Hong Kong’s monetary policy regulator has presented its new strategy to stimulate the fintech development of China’s special administrative region. With the strategy, HKMA aims for a comprehensive adoption of new....