Citibank Hacked Using “Remarkably Simple Technique”

Citibank suffered a major security breach in 2011 and then faced a second wave of criticism for both its lack of preparation and its response to the incident. The company waited three weeks before notifying the 210,000 customers whose data were compromised. Several days later, Citibank announced that, in fact, more than 360,000 accounts had been hacked. When it was revealed that the hackers used a “remarkably simple technique” to exploit a widely recognized vulnerability, critics compared Citibank to a “mansion with a high-tech security system” while “the front door wasn’t locked tight.”

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