Citigroup: Hackers Stole $2.7 Million from 3,400 Accounts

Paul Lilly

No matter what the suddenly disbanded hacking group known as LulzSec may have led the world to believe, not all security breaches are simply about stirring up trouble to embarrass the target and gain enough XP to increase the notoriety meter. Sometimes its about cold, hard cash. Just ask Citigroup, which says a hack attack last month stole millions of dollars from thousands of credit card accounts.

CNN says Citigroup acknowledged hackers made off with around $2.7 million from around 3,400 accounts on May 10. The damage could have been much worse. Hackers actually infiltrated 360,083 accounts, but fewer than 1 percent of the compromised accounts had money removed from them. For those that were affected, Citigroup says they have nothing to fear.

"Customers are not liable for any fraud on the accounts and are 100 percent protected," Citigroup said.

That's good news to Citigroup account holders, though it's a bit troubling the bank waited more than three weeks after discovering the hack to begin sending notification letters. Regardless, Citigroup insists it "took immediate action to rectify the situation and protect any customers potentially at risk."

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