Logix Aero, an Ireland-based aircraft engine trader, has failed in its appeal against a sanctioned Thai engine dealer over a hacking incident that saw the company lose more than €750,000. For over a year, Logix Aero has been challenging Siam Aero Repair Co Ltd, a Thailand-based engine dealer, over a transaction that was infiltrated by fraudsters. Logix and Siam Aero had been negotiating a deal for two aircraft engines (Siam Aero was not sanctioned at the time). As the parties were detailing payments, a hacker breached the email correspondence, altered bank details and made off with over $820,000 that Logix…

Want to continue reading?

For a limited time, get your first month for €1 and unlock full access to The Currency and The Wall Street Journal – two premium memberships, one subscription.

Subscribe

Cancel at any time.

Are you already a member? .