Don't panic.


ABC 24 said so far $500,000 has been stolen from 4 members.



https://www.abc.net.au/news/2025-04-04/drt-how-superfunds-were-hacked/105138170


What we know so far about the Australian superannuation fund cyber attacks


Topic:   Superannuation

13m ago


In short:
Cyber criminals were able to breach a number of super funds, stealing hundreds of thousands of dollars from members.

Cyber security experts say the breach is unsophisticated, and likely came about because some super funds had not implemented basic security protocols on members' accounts.

What's next?
Experts say many super funds are insured against fraud and theft, and urged customers not to panic.


Multiple large superannuation funds have been targeted in suspected cyber attacks that led to some members losing several thousand dollars in retirements savings.

Hostplus, Rest, AustralianSuper and Australian Retirement Trust are among the providers targeted.

The attacks were discovered over the weekend, and follow rising reports of online security threats in Australia with a cyber crime reported every 6 minutes.

Cyber experts say there were "major security weaknesses" in the superannuation sector that had been flagged, and the breach should be a wake-up call for the industry.


What happened?
AustralianSuper, the nation's biggest retirement fund, said cyber criminals may have used up to 600 members' stolen passwords to log into their accounts.

The hackers allegedly sought lump sum withdrawals.

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Bloody hell -
there is always someone trying to steal your money and belongings -
whether it's a burglary, a mugging, a home invasion, a car jacking, shoplifting,
and now cyber attacks on our Super money.

We need to bring back 19th century British justice.

Bobby. wrote on Apr 4^th, 2025 at 4:27pm:

Sir lastnail wrote on Apr 4th, 2025 at 4:21pm: That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !! We know they charge high fees. Still - don't panic - they say our money is safe.

Until the next share market crash where they leave your life savings exposed to the full downside risk :(

Sir lastnail wrote on Apr 4^th, 2025 at 5:29pm:

Bobby. wrote on Apr 4th, 2025 at 4:27pm: Sir lastnail wrote on Apr 4th, 2025 at 4:21pm: That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !! We know they charge high fees. Still - don't panic - they say our money is safe. Until the next share market crash where they leave your life savings exposed to the full downside risk :(

I was so paralyzed with fear after a previous stock market crash with considerable losses
that I transferred all my Super to the Bank option.

Bobby. wrote on Apr 4^th, 2025 at 6:41pm:

Sir lastnail wrote on Apr 4th, 2025 at 5:29pm: Bobby. wrote on Apr 4th, 2025 at 4:27pm: Sir lastnail wrote on Apr 4th, 2025 at 4:21pm: That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !! We know they charge high fees. Still - don't panic - they say our money is safe. Until the next share market crash where they leave your life savings exposed to the full downside risk :( I was so paralyzed with fear after a previous stock market crash with considerable losses that I transferred all my Super to the Bank option.

Paralysed with fear over money?

Jesus, Bobbi, you need to get some perspective.

greggerypeccary wrote on Apr 4^th, 2025 at 7:01pm:

Bobby. wrote on Apr 4th, 2025 at 6:41pm: Sir lastnail wrote on Apr 4th, 2025 at 5:29pm: Bobby. wrote on Apr 4th, 2025 at 4:27pm: Sir lastnail wrote on Apr 4th, 2025 at 4:21pm: That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !! We know they charge high fees. Still - don't panic - they say our money is safe. Until the next share market crash where they leave your life savings exposed to the full downside risk :( I was so paralyzed with fear after a previous stock market crash with considerable losses that I transferred all my Super to the Bank option. Paralysed with fear over money? Jesus, Bobbi, you need to get some perspective.

Some people get upset when they lose money.
I was in a casino once and one guy was cursing and swearing because he had lost money.
I asked him - how much did you lose? -
he said 12 dollars.  ;D

I'm with AustralianSuper and it has been difficult to log into it over the last few days.

Working OK today.

Luckily, I have not been one of the people who has had their account broken into.

I didn't use the App to verify login but have now installed the App to send a verification code when logging in. HOWEVER ... you can still log in via the web without the app verification - password only.  :D

I suppose they will make it compulsory to use Multi factor login soon. The sooner the better.

I changed my password today just in case too.

Now a mixed format 19 character password. That should keep the hackers out of my account!  8-)


30,862,366,077,815,090,000,000,000,000,000,000,000 possible combinations.