Ukrainian bank loses $10m in cyber heist due to flawed global financial network

Shortly after hackers snatched $81 million from the Bangladesh Bank in an attempted $951 million cyber heist back in February, an unnamed Ukrainian bank has now fallen victim to a similar vulnerability, the KyivPost reports.

The thieves exploited a flaw in the SWIFT network responsible for overseeing transactions between financial institutions worldwide. The exact amount of money stolen hasn’t been revealed, but the sum is reportedly around the $10 million mark.

However, the total damages from this vulnerability might be much more substantial as it is likely other banks in the Ukrainian financial ecosystem have been compromised too.

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