The two hackers, Charlie Miller, a Twitter employee based in St. Louis, and Chris Valasek, a director at the security firm IOActive, demonstrated in an article and video published in technology magazine Wired their ability to wirelessly access a vehicle’s systems. The researchers, who have been probing vulnerabilities in connected automobiles for years, previously could only take over a car by hacking from a laptop connected by cable to a moving vehicle.

Mr. Miller defended releasing the information, arguing he is improving auto safety by drawing attention to the issue. “We both want the same thing, to keep drivers safe from a cyberattack,” said Mr. Miller, who used to work on hacking tools for the NSA. “All I can do is point out flaws in their vehicles, get other researchers working on this issue and make suggestions.”

 

Eoin Treacy's view

Here is a link to the full report.

The lesson here is that not only is every internet connected device susceptible to outside interference but that interested parties have the capability to achieve their goals with relative ease. Cybersecurity remains a growth industry not least as our homes become progressively more connected and as the online economy grows and potentially overtakes the physical economy in the coming decades. 

Harris Corp with its suite of products aimed at secure military communications is experiencing greater demand for its products in the civilian market, not least in automobiles. The share has bounced back impressively from its October lows and found support three weeks ago in the region of the 200-day MA. A sustained move below $76 would be required to question medium-term scope for additional upside.