The news of a group of hackers who robbed Rs. 94 crores from Pune's Cosmos Bank has left everyone in shock. While the hefty loss is a very disappointing factor, many have been wondering how the hackers were able to pull the act of.

Now it has been disclosed that the hackers between the dates of August 11 and 13 had hacked the bank's switch server. And on August 11th alone the fake switch server helped approve a whopping 12,000 transactions which amounted to a value of Rs. 78 crores in 28 countries.

Two days later Rs. 14.42 crores was transferred to Hong Kong via SWIFT transaction. In India alone there were about 2800 transactions. While forensic and cyber experts are investigating about the case, the bank has communicated to its customers that their money is sound and safe.