Hackers not only managed to breach Citigroup’s online defenses and steal the information of 200,000 customers, apparently the hack was “extremely easy” to accomplish and many more attacks are expected over the next year.
According to one expert speaking to the New York Times:
“If you think financially motivated breaches are huge now, just wait another year.”
The experts assertion comes as many credit cards from 2008 begin to expire this year, a move that will push up demand for new credit card numbers.
To hack the Citi system hackers just needed to log into a Citi account and then use a browser weakness with a piece of code to create text over and over again while tailoring their attack specifically for the Citigroup website.