‘Logic Bomb’ Costs Hacker Thousands …

By Michael Santo
Executive Editor, RealTechNews

… and that’s before we even start talking about his jail time. A ‘logic bomb‘ is code that, when certain conditions are met, does something malicious when it detonates. In this case, the bomb started deleting files. The hacker expected to make money when the stock of UBS PaineWebber went down after the detonation; unfortunately for him that’s not what happened.

The investment scheme backfired when UBS stock remained stable after the computer attack and Roger Duronio lost more than $23,000. A federal judge in New Jersey sentenced Duronio, 64, to 97 months in prison and ordered him to make $3.1 million in restitution to his former employer, the U.S. attorney’s office said in a statement. Source: Yahoo! News

We Say: Duronio had quit his job with UBS PaineWebber in 2002 after expressing dissatisfaction over his salary. I’m sure he’s definitely not satisfied with how stable the stock is either, or his prison sentence.