Hackers Steal Millions in EU Carbon Trading Credits

Thursday, January 20, 2011

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The EU Emissions Trading Scheme has suspended all carbon emissions trading until January 26th after hackers breached networks and pilfered millions in pollution credits.

Recurring security lapses over the last several months allowed hackers to breach accounts in several nations including Poland, Estonia, Greece, Austria and the Czech Republic.

The credits stolen form the Czech accounts are estimated to be worth as much as seven million Euros, according to reports.

Representatives indicate member nations are working to rectify security problems that have plagued the exchange networks since a breach early in 2010.

"We very much hope that this series of incidents speeds up the process... The sooner states take security measures, the sooner we can reopen the system," said Maria Kokkonen, a spokeswoman commissioner Connie Hedegaard.

Trading was suspended in thirteen countries last year after a series of "phishing" emails were thought to have compromised security in the exchange.

Investigators are trying to determine if the security pass codes of any trading partners were used in the heist.

Source:  http://www.google.com/hostednews/afp/article

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