09:23 GMT01 April 2020
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    Shares of the international digital security company Gemalto fell nearly 10 percent on Friday, plummeting about $500 million, after the reports on the company's hack.

    WASHINGTON (Sputnik) — Shares of the international digital security company Gemalto fell nearly 10 percent on Friday, plummeting about $500 million, according to companies stock charts, following media reports that the United States and United Kingdom intelligence agencies hacked Gemalto-manufactured SIM cards.

    Gemalto’s own stock chart revealed that its shares traded at $74.45 on Friday, falling from the opening price of $79.65. By the end of Friday, shares slightly recovered, but were still down about 4 percent.

    On Thursday, The Intercept online publication reported that in 2010 and 2011, a joint US National Security Agency (NSA) and UK Government Communications Headquarters (GCHQ) unit hacked SIM card encryption keys engraved in Gemalto, and possibly other SIM card vendors.

    The details of the breach were discovered in a secret 2010 GCHQ document given to The Intercept by NSA whistleblower Edward Snowden.

    Gemalto said it has experienced many hacking attempts against their systems in the past, but it was still not able to verify the NSA-GCHQ hack.

    The Netherlands-based company also said it intends to conduct a thorough investigation of the reported incident.

    Gemalto, who recorded $2.72 billion in revenue in 2013, has 450 mobile-network customers globally, according to the company’s website.

    Related:

    Gemalto SIM Card Producer Reports Many Hack Attempts ‘Over the Years’
    Spying on Cellphones Undermines UK Moral Authority - Civil Liberties Group
    SIM Card Producer Investigates US Intelligence Hack, Unable to Verify
    Russian Telecom Clients Not Affected by Alleged US, UK Hacking of Gemalto
    Deutsche Telekom Clients May Be Among Victims of US, UK Hack on SIM Cards
    China Bought Nearly Half of Gemalto SIM Cards Allegedly Hacked by US, UK
    Tags:
    hacking, Gemalto, British Government Communications Headquarters (GCHQ), National Security Agency (NSA), United States, United Kingdom
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