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December 5, 2019 03:44 pm

Hackers Trick Venture Capital Firm Into Sending Them $1 Million

Security researchers at Check Point say the company has uncovered evidence that Chinese hackersmanaged to hijack $1 million in seed money during a wire transfer between a Chinese venture capital firm and an Israeli startup -- without either side realizing anything was wrong. From a report: The VC firm and the startup, whose names Check Point hasn't released, reached out to the security firm after the funds failed to arrive. Once Check Point dug into the details, it discovered a man in the middle attack that took a lot of planning and plenty of patience. After analyzing the server logs, emails, and the computers involved in correspondence between the companies, Check Point noticed some abnormalities. Some of the emails, analysts discovered, had been modified. Others hadn't even been written by either organization. After seeing the original email thread announcing the upcoming multi-million dollar seeding fund, the hacker took action. Instead of monitoring subsequent emails by creating an auto forwarding rule (standard practice in traditional attacks), the hacker started by creating two lookalike domains.

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