There have been many instances when a typographical error or typo — which defined as a a mistake in typed or printed text — has caused a lot of trouble. Here’s an example: In 1962, a hyphen omitted from a computer code caused the failure of Mariner 1, a Venus-bound spacecraft. The typo cost the National Aeronautics and Space Administration (NASA) a staggering $18.5 million.
Just recently, though, officials of the Bangladesh Central Bank and the New York Federal Reserve were most likely very thankful for a typo for stopping a group of hackers from stealing $1 billion.
The hackers responsible haven't been identified.
You see, Bangladesh has record foreign reserves right now. Bloomberg reported that this is due to “a low wage-fueled export boom and inward remittances.” The Bangladesh Central Bank placed their foreign reserves in the New York Federal Reserve.
A Reuters report by Serajul Quadir explained, “The hackers breached the Bangladesh Central Bank’s systems and stole its credentials for payment transfers. On February 5, they then bombarded the Federal Reserve Bank of New York with nearly three dozen requests to move money from the Bangladesh Central Bank’s account there to entities in the Philippines and Sri Lanka.” All the fund transfer requests made by the hackers had a total value of $1 billion.
Out of the nearly three dozen requests made by the hackers, only four resulted in successful transfers, for a total value of $81 million.
The hackers only managed to steal $81 million.
The fund transfer request that raised the red flag was for $20 million. It was supposedly for a non-government organization in Sri Lanka called the Shalika Foundation. However, the hacker (or hackers) had typed, “Shalika Fandation.”
The glaring typo caused the staff at Deutsche Bank, which was involved in routing funds, to seek clarification from the Bangladesh Central Bank. The Federal Reserve Bank of New York also sought clarification from the Bangladesh Central Bank when they noted that there were a lot of fund transfer requests involving large amounts at around the same time.
The Bangladesh Central Bank is investigating the incident further.
Thankfully, the Bangladesh Central Bank immediately put a stop to the remaining transfers. The hackers only managed to steal $81 million — which is still a staggering amount but a lot smaller than the possible $1 billion that could have been stolen.
The Bangladesh Central Bank and the New York Federal Reserve are now working with anti-money laundering authorities and the Philippine Amusement and Gaming Corporation (PAGCOR), which oversees the gaming industry. Several individuals in the country are under investigation as their bank accounts reportedly received the stolen money. It is believed that the cash is further diverted to casinos in the Philippines.
Bees Kill Penguins by Stinging Them in the Eyes
2000 Kilogram Sunfish Caught Off North African Coast
Man Embezzles $57K in COVID-19 Relief to Buy Pokemon Cards
Florida Man Catches and “Recycles” Alligator in Driveway
Man Shocks Reporter on How He’d Spend the Lottery Winnings
Man Joins Search Operation Not Realizing He’s the One Missing
World’s Oldest Rhino Dies in Italian Zoo at 54 Years Old
Meet Quilty – Cat Escape Artist Helping Other Cats Jailbreak
Fans Use American Flag to Save Falling Cat During Football Game in Miami
TikToker Shares How She Tricked Invaders Who Tried Opening The Hotel Door While She Was Alone
Man Iced Neighbor Who Repeatedly Asked Him “When Are You Getting Married?”
Do You Live in One of These 15 Countries With The Most Beautiful Women on Earth?
The Secret Meaning of Anklets And Why Some Wives Wear Them
Waking Up Between 3 to 5 AM Could Mean You’re Experiencing Spiritual Awakening
Divorced Man Wrote 20 Epic Marriage Advice He Wished He Could Have Had
Haunting Photos of Two Tourists Snapped Just Before They Mysteriously Disappeared
“Chastity Cages” is the Latest Thing for Men
Pork Fat Is Officially One of the World’s Most Nutritious Foods
Some Stranger Padlocked This Guy’s Earlobe And Ran Away With The Key
Three-Month-Old Baby Left Blind in One Eye After Family Friend Took His Picture
News10 months ago
Mexican Residents Tie Mayor To Tree After He Failed To Fulfill His Campaign Promise
Interesting10 months ago
Diver Coaxes Octopus To Trade His Plastic Cup For A Shell
OMG9 months ago
Bride Asks Husband If She Can Hug Her Ex-BF “One Final Time” During Wedding
Entertainment9 months ago
Dwayne ‘The Rock’ Johnson Could “Unite The People” If He Runs As US President, Says The Undertaker