Posted on 10/07/2015 6:41:11 PM PDT by TigerLikesRooster
Hackers Breached LoopPay, Whose Tech Is Central to Samsung Pay
By NICOLE PERLROTH and MIKE ISAAC OCT. 7, 2015
WASHINGTON — Months before its technology became the centerpiece of Samsung’s new mobile payment system, LoopPay, a small Massachusetts subsidiary of the South Korean electronics giant, was the target of a sophisticated attack by a group of government-affiliated Chinese hackers.
As early as March, the hackers — alternatively known as the Codoso Group or Sunshock Group by those who track them — had breached the computer network of LoopPay, a start-up in Burlington, Mass., that was acquired by Samsung in February for more than $250 million, according to several people briefed on the still-unfolding investigation, as well as Samsung and LoopPay executives.
LoopPay executives said the Codoso hackers appeared to have been after the company’s technology, known as magnetic secure transmission, or MST, which is a key part of the Samsung Pay mobile payment wallet that made its public debut in the United States last week.
(Excerpt) Read more at nytimes.com ...
I wonder how successful they were?
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