The Astonishing Heist of $122 Million from Facebook and Google

50-year-old Evaldas from Ascu discovered a loophole in Facebook and Google’s payment system, enabling him to siphon off a staggering $122 million over the course of two years. This audacious scheme went unnoticed until a real Quant Computer Inc. employee finally raised the red flag, leading to his eventual arrest and sentencing.

The Setup

Evaldas cleverly registered a company with a similar name to Quant Computer Inc., utilizing accounts in Latvia and Cyprus to receive the illicit funds. He meticulously forged payment documents that were so convincing that they went unquestioned by the unsuspecting employees of both tech giants.

The Art of Deception

Evaldas employed a classic phishing tactic, sending false business letters instructing payments to be made to these new company accounts. While the accounts were not in Asia as claimed, the elaborate ruse managed to evade detection for an astonishingly long time.

The Consequences

Once the real Quant Computer Inc. raised concerns about missing payments, the elaborate scam came crashing down. In 2017, Evaldas was ordered to pay $26 million in compensation and sentenced to five years in prison for his audacious fraud.

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Ultimately, this shocking incident serves as a stark reminder of the importance of robust security measures in the ever-evolving digital landscape. Stay vigilant and always be cautious of suspicious requests or transactions. Positive outcomes can arise from such incidents as they encourage companies to strengthen their defenses and become more resilient.