Hackers succeed in derailing Sony Corporation (ADR) (SNE)’s Plans


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Hackers, who are said to be based from North Korea, have succeeded in upsetting the plans of Sony Corporation (ADR) (NYSE:SNE)’s Sony Pictures. It has been established by the U.S. investigators that North Korea was behind the hacking of Sony Corp’s computers.

State-Sponsored

According to a report, the cyber attack was engineered by the North Korean government. Therefore, American government circles believe that it was nothing but a ‘State-Sponsored’ hacking. The U.S. government seems to be toying with the idea of sharing the investigators’ findings with the public.

However, the hackers have succeeded in their attempt to cancel the release of Sony’s film, ‘The Interview, a North Korea comedy. Its decision followed after major theater chains in the U.S. pulled out of releasing the film in their theaters after hackers threatened them with acts of terrorism.

Raided Internal Systems

The report said that Sony’s internal systems were raided by hackers causing havoc on the company by releasing reams of stolen data systematically after the cyber attack came to the fore on November 24.

The investigation by the FBI on the hacking was in progress with North Korea as a prime suspect. However, experts believe that hackers might have got the help from insiders. Though North Korea denied its involvement in the hacking issue, it did not forget to praise the hackers. North Korea also condemned the film.

Theaters Cancel Film

In the U.S., five biggest cinema chains have canceled the planned showing of ‘The Interview’ following terror threats from hackers. The film’s plot centered around a plot to kill Kim Jong Un, a North Korean leader. The Hollywood Report said that AMC Entertainment, Cinplex, Cinemark, Carmike Cinemas, and Regal Entertainment have disclosed that they preferred not to show the film at least for the time being.

Regal Entertainment indicated that it would ‘delay’ the opening of the film in theaters. The decision was taken following a ‘wavering support’ from Sony for the film, and the uncertain nature of perceived or real security threats. The major theaters decision did have an impact on smaller chains, which have followed suit.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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