Here is yet another update on the Citibank fiasco. It looks like this is far worse than was ever imagined.
“This is the worst hack ever,” Litan maintained. “It’s significant because not only is it a really wide-spread breach, but it affects debit cards, which everyone thought were immune to these kinds of things.”
Apparently the person/s that hacked into the system (as yet unidentified) were able to get their hands on the encrypted PIN data and the keys for them as well. This is similar to an incident back in the 90s when the Russian mob was able to compromise banking systems in Toronto and hacked the Rainbow crypto cards.