Report: Chinese hackers caused billion-dollar Nortel collapse

A former systems security adviser to Nortel Networks says he has no doubt that extensive cyberattacks on the technology company contributed to its downfall.

In an interview with the CBC’s As It Happens, Brian Shields, the former senior systems security adviser at Nortel, said spying by hackers allegedly based in China “absolutely” was a “considerable factor.”

“When they see what your business plans are, that’s a huge advantage. It’s unfair business practices that really bring down a company of this size,” Shields said.

Nortel is currently selling off assets in the wake of a 2009 bankruptcy filing.

Shields said both the Canadian and Chinese governments should investigate.

Read more at CBC News HERE.