Beverly Hills 2/21/2010 2:30:55 AM
News / Business

Recent Arrest Highlights Chinese Hacking Problem

World News Update by EQUITIES Magazine

The recent arrest of 27-year-old Li Jun, who wreaked havoc on Chinese computers with his “The Panda Burns Incense” worm, highlights an ongoing problem with cybercrime in the country. The worm would jump from one computer to another by tricking users into opening a friendly email message. Once inside, it would funnel passwords, financial information and online cash balances from game Web sites to Mr. Li and his cohorts.

 

Last month, Google Inc. alleged that it had been breached in a cyberattack, along with over 20 other companies, that it had traced to China.  The attack is now being dubbed Aurora and appears to be larger and more complex than the Panda attack.

 

Although Aurora and the Panda attack are unrelated, Mr. Li revealed that he learned his craft and launched the Panda attack within a Chinese hacker network that appears to be one of the largest threats to global computer users.

 

The Panda case is allowing experts to take an in-depth look into the operations of this underground network.

 

According to the Wall Street Journal, the U.S. is one of the top countries counting malware on their servers with 39.6 percent of American computers infected.

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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