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.
