ONE EMAIL costs mining company $300 MEEELION

  • 26 July 2014
  • 1 reply
  • 290 views

Userlevel 7
Comment: This was one of the most expensive emails ever sent
=================================================================================================
By Simon Sharwood, 26 Jul 2014
 
In January 2013, a chap called Jonathan Moylan sent a single email that caused an AU$314m - £174m or $295m - dip in a coal company's value.
The email was a fake press release stating that Whitehaven Coal's bank, ANZ, had decided not to lend the mining firm the billion or so dollars needed to open a new pit.
 Moylan's message was sent from a domain that riffed on ANZ Bank's name, used the bank's logo and included the name of an ANZ Bank PR person and a phone number. That number was Moylan's own, so when journalists called to confirm the details of the fake press release, Moylan simply told them it was all kosher.
 
The Register/ Full Read Here/ http://www.theregister.co.uk/2014/07/26/one_email_costs_mining_company_300_meeelion/

1 reply

Userlevel 7
Badge +56
I expect there'll be a lot more reputation based attacks in the future.  It doesn't have to be true, to cause damage, people just have to think it is.

Reply