NYT reports on LoopPay breach

A hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of the Magnetic Secure Transmission (MST) technology that was acquired in February 2015 to form a core part of Samsung Pay, the New York Times reports. “Both LoopPay and Samsung executives said they were confident that they had removed infected machines, and that customer payment information and personal devices were not affected.”

  • Willam Hugh Murray, CISSP

    Security of MST does not rely on its secrecy. Competition, not security, is the issue.