US payments startup LoopPay, bought by Samsung in February 2015 to underpin the company’s Samsung Pay mobile payments system, was attacked by a Chinese group of hackers.
The hackers, known as the Codoso Group or Sunshock Group, had access to LoopPay’s internal network since March and went undetected until August 2015.
The hackers had undetected access to LoopPay’s corporate network for five months. How much of the information required to replicate the technology was stolen from the company in that time is unknown at this stage.
Samsung said its payment system was not impacted and at no point was any personal payment information at risk. The company said it was an isolated incident and stressed that LoopPay was a physically separate network from Samsung Pay.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now