27 August 2016
Find out more

PayPal puts £3.5 million price tag on Anonymous attacks

23 November 2012  |  9848 views  |  0 PayPal logo

PayPal says attacks on its Web site by the Anonymous group of Internet hacktivists cost it £3.5 million as it scrambled to bring in extra staff and new hardware to keep its operation running.

The £3.5 million figure was quoted by prosecutors during the first day of the trial of a 22-year old Northhampton University student at Southwark Crown Court.

Christopher Weatherhead is alleged to have been one of the ring-leaders in a string of DDoS attacks on financial services firms last year that were initiated in retaliation to the blockade of payments to the whistleblowing Web site WikiLeaks.

The operation Payback campaign targetted the Web sites of PayPal, Visa and MasterCard,among others, during a packet-flooding blitz in December last year.

The prosecution claims that Weatherhead was a key figure in the attacks, encouraging other hacktivists to join the campaign and boasting of its successes on an Internet Relay Chat (IRC) channel.

In calculating the £3.5 million cost, the prosecution says that Paypal suffered "considerable damage to its reputation and loss of trade", as a result of the attacks.

PayPal was forced to draft in 104 employees from parent company eBay to contain the damage, and shell out on hardware and software to protect itself from future actions.

MasterCard and Visa have not put a price tag on the damage caused by Anonymous during the online firestorm, but the court was told that the defendants boasted on IRC that "We have probably done some million pound of dmg to mc", which is read as a reference to MasterCard.

Three other self-confessed members of Anonymous have already pleaded guilty to the charges.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

PayPal disputes Anonymous hack claims

PayPal disputes Anonymous hack claims

05 November 2012  |  10255 views  |  0 comments | 16 tweets | 3 linkedin
WikiLeaks opens new payment gateway as reserve funds run dry

WikiLeaks opens new payment gateway as reserve funds run dry

18 July 2012  |  4502 views  |  0 comments
WikiLeaks claims banking blockade court victory

WikiLeaks claims banking blockade court victory

13 July 2012  |  5707 views  |  0 comments
Anonymous Brazil targets bank sites

Anonymous Brazil targets bank sites

08 February 2012  |  6443 views  |  0 comments
Anonymous threatens to 'erase' Nyse from the Internet

Anonymous threatens to 'erase' Nyse from the Internet

04 October 2011  |  11531 views  |  0 comments
Anonymous and LulzSec's PayPal boycott campaign gathers momentum

Anonymous and LulzSec's PayPal boycott campaign gathers momentum

27 July 2011  |  8492 views  |  0 comments
FBI arrests 14 over PayPal cyber-attack

FBI arrests 14 over PayPal cyber-attack

20 July 2011  |  8115 views  |  0 comments
WikiLeaks files anti-trust complaint against Visa and MasterCard

WikiLeaks files anti-trust complaint against Visa and MasterCard

14 July 2011  |  6962 views  |  0 comments
Visa shuts down WikiLeaks payments workaround

Visa shuts down WikiLeaks payments workaround

08 July 2011  |  8874 views  |  0 comments
WikiLeaks to sue Visa and MasterCard

WikiLeaks to sue Visa and MasterCard

04 July 2011  |  9546 views  |  3 comments
WikiLeaks hacktivists take down MasterCard

WikiLeaks hacktivists take down MasterCard

28 June 2011  |  15518 views  |  1 comments
Spain arrests Anonymous suspects linked to bank attacks

Spain arrests Anonymous suspects linked to bank attacks

10 June 2011  |  8289 views  |  0 comments
UK police arrest five over WikiLeaks-related Anonymous Web attacks

UK police arrest five over WikiLeaks-related Anonymous Web attacks

27 January 2011  |  11427 views  |  0 comments
WikiLeaks day five: Moneybookers feels the wrath of hacktivists

WikiLeaks day five: Moneybookers feels the wrath of hacktivists

10 December 2010  |  16994 views  |  0 comments
WikiLeaks: Visa.com latest Operation Payback victim

WikiLeaks: Visa.com latest Operation Payback victim

09 December 2010  |  16236 views  |  2 comments
WikiLeaks: US lobbied Russia for MasterCard and Visa

WikiLeaks: US lobbied Russia for MasterCard and Visa

08 December 2010  |  12386 views  |  1 comments
WikiLeaks: Hackers humble MasterCard; IT firm threatens to sue Visa Europe

WikiLeaks: Hackers humble MasterCard; IT firm threatens to sue Visa Europe

08 December 2010  |  16944 views  |  2 comments | 1 tweets

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit equens.com

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
9104 views 0 | 56 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
7528 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7272 views 11 | 24 tweets | 9 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6473 views comments | 17 tweets | 20 linkedin
R3 blockchain consortium sheds light on Concord projectR3 blockchain consortium sheds light on Co...
5833 views comments | 14 tweets | 14 linkedin

Featured job

Find your next job