Qin Qisheng, a 43-year-old programmer discovered and exploited a loophole in ATMs being operated by his employer Huaxia Bank to withdraw over a million.
On a report by the South China Morning Post, Qin discovered a loophole in the bank’s core OS which implied that the cash withdrawals made around midnight were not being recorded. In spite of the fact that the bank knew that he had been testing the inner security framework and the cash being taken was resting in a spurious account.
In any case, so as to carry out the exploit as cryptically as possible, Qin embedded a couple of scripts in the banking system that enabled him to test the proviso without setting off the alarm about any withdrawals. Because strangely, the bug was found in 2016 and for over a year, he kept making money withdrawals.
Be that as it may, he had moved the amassed cash to his own account and invested some in the stock market this, at long last lead to his arrest.
While the court has condemned Qin to 10 and a half years in jail, the bank ‘acknowledged’ that he had been testing the loophole however conceded that a few exercises were not reported which was in ‘violation’ of the formal systems and procedures.