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Russian hackers made billions of dollars over the past 12 months

Russian hackers have generated almost $2.5 billion in the past 12 months, in large part because of the Target breach in late 2013

Michael Hatamoto | Oct 17, 2014 at 05:40 pm CDT (0 mins, 42 secs reading time)

Russian hackers have generated an estimated $2.5 billion over the past year, as state-sponsored groups are able to breach companies in the United States and Western Europe. The Target breach, impacting millions of customers, helped them generate a tremendous amount of revenue, according to the Group-IB report.

Russian hackers made billions of dollars over the past 12 months | TweakTown.com

Stealing and selling credit card information - among other personal information - helped the groups generate $680 million, with financial fraud also raking in $426 million. In addition to the Target breach, The Home Depot was recently compromised, with Russian-based hackers likely involved.

Both Russia and China have been named major threats to the United States, launching organized cyberattacks with a focus on corporate espionage and compromising users. Unfortunately, hackers are better organized and able to compromise point-of-sale (POS) terminals in retail stores, hack ATM machines, and steal consumer personal information at a rapid pace.

Last updated: Sep 1, 2017 at 05:42 am CDT

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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