Published On: Thu, Oct 8th, 2015

LoopPay Was Targeted By Hackers In March: Samsung

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Samsung’s mobile payment system LoopPay was targeted by hackers earlier in March this year, reveals a new report.

Samsung acquired the US-based LoopPay in February this year.

It is reported the hackers who had executed attack on Samsung appears to be from China and wanted to frame not just another hack, but a case of international espionage.

The New York Times report adds further the Chinese hacker group the Codoso Group breached the computer network of LoopPay and it was discovered later in August. This mean the hackers had five months of access to the computer network of the mobile payment system.

Meanwhile, it is also said the Samsung Pay was not impacted with the attack and also no personal payment information was at risk.

The LoopPay was an isolated target as the LoopPay corporate network is physically a separate network from the Samsung Pay.

Samsung said the hackers were trying to hack the details on LoopPay’s magnetic secure transmission (MST) technology that is used in conjunction with the wireless NFC technology.

The South Korean electronic giant has also published a blog post confiring safety of the Samsung Pay system.

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About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade.