by Justin Spittler, Casey Research:
The U.S. government was robbed.
Last month, hackers stole $100 million from the Federal Reserve. Authorities recovered $19 million, and the hackers got away with $81 million.
It was the largest bank robbery in history.
Nick Giambruno, editor of International Man, explains what happened.
Last month, an international group of hackers robbed Bangladesh’s account at the Federal Reserve, the central bank of the U.S.
First, the hackers used a computer virus to break into the security system of Bangladesh’s central bank. Then they stole the usernames and passwords the bank uses for payment transfers. The hackers used this information to wire over $100 million from Bangladesh’s Federal Reserve account to the Philippines and Sri Lanka. From there, they funneled it to casinos and withdrew it as cash.
Big as this bank robbery was, it was only the latest major cyberattack against the United States. It won’t be the last, either.
• We’ve been warning readers about this threat for months…
In December, we explained why a cyberattack is the biggest threat to your wealth. Although few people realize it, a hacker could instantly wipe out your life savings.
To grasp why this threat is so serious, think about the “money” in your bank account. What is it really?
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