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US Considers Sony Cyber Hack Responce

Posted by: : Paul EbelingPosted on: December 18, 2014 US Considers Sony Cyber Hack Responce

US Considers Sony Cyber Hack Responce

The United States considering options in response to a major cyber attack on Sony Pictures, a unit of Sony Corp (NYSE:SNE),  blamed on North Korea. There are calls for tougher sanctions to cut it off from the global banking system.

US experts say options for the Obama administration could include cyber retaliation and financial sanctions, but the effect of any response could be limited given North Korea’s isolation.

Hackers who said they were incensed by a film on the fictional assassination of North Korea’s leader attacked Sony Corp on 24 November, leaking documents that drew global headlines and distributing unreleased films on the Internet. It appears to be an unprecedented victory for Pyongyang and its abilities to wage cyber warfare.

Wednesday, Sony canceled next week’s theatrical release of the $44-M comedy, “The Interview,” citing decisions by several theater chains to hold off showing the film. The hacker group that broke into Sony’s computer systems had threatened attacks on theaters that planned to show it.

US government sources said on Wednesday that US investigators had determined that the attack was “state sponsored” and that North Korea was the government involved.

A US government source said Washington may soon officially announce its conclusion that North Korea was behind the attack.

Political analysts questions how easy it would be to enforce sanctions and to ensure the support of China, which is North Korea’s biggest economic partner, its neighbor and long-time ally.

The United States has a deep economic relationship with China but is sharply at odds with Beijing over Washington’s allegations of cyber spying by Chinese state units on US concerns.

North Korea has denied it was behind the Sony hacking, but security experts said it is an open secret Pyongyang was responsible.

Wednesday, the Obama  White House said the US government was working to bring the perpetrators to justice, and was considering “a range of options in weighing a potential response.”

The Republican Chairman of the House of Representatives Foreign Affairs Committee, Ed Royce, said the United States should impose new penalties on the already heavily sanctioned North Korea that would “Wall Off” the country from the international banking system.

The US FBI warned theaters and other businesses associated with “The Interview”  Tuesday that they could be targeted in cyber attacks.

Several USnnational security officials said the government has no credible evidence of a physical threat to movie theaters.

HeffX-LTN Analysis for SNE: Overall Short Intermediate Long
Bullish (0.25) Neutral (-0.15) Very Bullish (0.52) Bullish (0.39)

Stay tuned…


Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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