June 5, 2023

Hungarian banking and telecommunication services were briefly disrupted by a powerful cyber attack on Thursday launched from computer servers in Russia, China and Vietnam, telecoms firm Magyar Telekom MTEL.BU said on Saturday.

The event was a (DDoS) attack, a cyber attack in which hackers attempt to flood a network with unusually high volumes of data traffic in order to paralyse it.

The volume of data traffic in the attack was 10 times higher than the amount usually seen in DDoS events. One of the heaviest in Hungary

“Russian, Chinese and Vietnamese hackers tried to launch a DDoS attack against Hungarian financial institutions, but they tried to overwhelm the networks of Magyar Telekom as well,” the company added in a statement.

The attack, which took place in several waves, disrupted the services of some of the country’s banks and caused lapses in Magyar Telekom’s services in certain parts of the capital, Budapest, being impelled after a while

Hungarian bank OTP Bank OTPB.BU confirmed it had been affected by the attack.

Meanwhile SIM Swap with a remote monitoring tool phished in another banking attack which drained the handful banking customer accounts

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