Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The rise of digital connectivity allowed for the first online bank robbery in history, where hackers exploited vulnerabilities to gain access to City Bank's network and attempted fraudulent money transfers.
- Vladimir Levin, partnering with a gang of ex-wrestlers, attempted to set up bank accounts in different countries to collect stolen money, but was eventually apprehended by the FBI and became the first notorious online bank robber.
Deep dives
The Rise of Online Bank Robberies
Bank robberies have evolved with the rise of digital connectivity. The first online bank robbery occurred as banks became connected to each other through the internet. Telanet, a public available network using the X.25 protocol, gained popularity for its free access. Large companies like Apple and Boeing connected to this network as well. An issue of the hacker magazine Frack published all the known sprint net numbers, including those of City Bank. Hackers in Russia found a way to access City Bank's network through vulnerabilities and discovered a computer used for money transfers. They gained access to numerous devices and mapped out a large portion of the network.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
