Tech

Chinese programmer withdraws $1 million in ‘free’ cash from ATM operated by his employer

Written by Logical Men

The technology has prospered a lot and the credits of this advancement goes to the research and hard work of the scientists. The science has backed all this technological revolution, which means that Research and Development is necessary for every technological advancement and company which believes to stay in the market. The same kind of race is quite evident between different companies which specialize in technological products. Meanwhile, there are certain people which try to counter all these advancements by hacking their way into these upgraded systems by using their skills.

Chinese programmer uses a loophole to get around $1 million in cash from the ATM

A Chinese employee has withdrawn around $1 million from his employer ATM machine. The 43yo Qin Qisheng somehow managed to withdraw over 7 million Yuan from a bank. He exploited a simple loophole which was present in the system. Instead of informing the bank management about the loophole like some gentleman, he decided to use it for sake of his own benefit. The website which shared the news writes that there was a small glitch in the system of the bank which didn’t debit the amount withdrawn from the ATM in hard cash from the account of the customer. This means that around that time, which was midnight for this ATM machine, one could withdraw some ‘Free Cash’ using the loophole. Those withdrawal entries were simply not maintained by the bank system. In such a situation, bank’s ATM normally sends out warning that the cash wasn’t withdrawn. Qin injected some code in the system of the bank which suppressed those warnings. Starting from the year 2016, he removed enough money till 2018. Until the banks management somehow learned about the breach.

The bank approached the authorities and they merely seek Qin to return their money as they don’t want any negative publicity. This would effect their business. The bank asked the police to drop the case but the courts didn’t hear and they prosecuted Qin. He is now looking at 10 and half years in prison.

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Logical Men

A group on Facebook striving to raise awareness. [email protected]

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