NYT Report Reveals Samsung’s Acquired LoopPay Wat At Hacker’s Risk In March

April 27, 2023 2:33 am46 commentsViews: 74

A report published in The New York Times on Wednesday reveals the US-created mobile payment system, LoopPay, was the target of hacker earlier this year in March.

Samsung owns LoopPay. The company acquired it in February this year.

It is revealed the hacking group were from China and was framing the incidence to be a case of international, corporate espionage and not just one another hack to websites and portals.

NYT writes the group is named as Codoso Group and the breach was discovered in August, which means giving access of the computer network to hackers for five months.

The South Korean tech giant is also set to roll out Samsung Pay by using LoopPay. It is said to be a competitor to Apple Pay.

Samsung claimed the Samsung Pay was not impacted by the hack and no personal payment information of clients is at risk. It said the computer network of both the systems is physically separate and the LoopPay hack was isolated.

Samsung’s chief privacy officer Darlene Cedres said the company is extremely committed to securing and protecting the data of users to the highest industry standards.

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