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Cybersecurity

Hackers May Pocket About $70 Million in Bangladesh Cyber Heist

  • Slim chance to recover more stolen funds, finance chief says
  • In interview, Muhith says NY Fed shares blame for lapses

Hackers are likely to get away with about $70 million of Bangladesh’s foreign reserves after a brazen cyber-attack against the South Asian nation, according to Finance Minister Abul Maal Abdul Muhith.

The Philippines -- where most of the funds ended up -- will probably recover as much as $10 million of the $81 million stolen in February from Bangladesh’s account at the Federal Reserve Bank of New York, Muhith said. The rest is hard to track, he said.