Google Cloud deletes $135,000,000,000 account for Australian UniSuper retirement fund, then takes two weeks to restore

[Redaktion]

Google Cloud has deleted in error the $135 billion account and data for UniSuper, a retirement fund company holding the pension savings for over 647,000 members who work at 37 Australian universities. The funds were unavailable for two weeks until May 15, 2024 while the cloud provider rushed to restore everything.

https://www.notebookcheck.net/Google-Cloud-deletes-135-000-000-000-account-for-Australian-UniSuper-retirement-fund-then-takes-two-weeks-to-restore.839174.0.html

[punmeistervstheworld]

Or even better, when handling such info, IBM Cloud and Oracle Cloud Infrastructure are the safest choices.

[RobertJasiek]

Before Google's mistake, it was Australia's mistake to trust a foreign company at all.

[Bill]

The real question is...where was the $135 billion for two weeks? Who collected the interest? Follow the money trail guys, then you have some robust answers. Who stands to benefit from these computer bugs?

[Jebdra]

@bill - there was no money involved. What was deleted were records, applications, everything needed to run the company. The money remained in the bank, or wherever the company kept it.

[NikoB]

135 billion dollars at a rate of 5% per annum gives approximately 258 million dollars of net profit in 2 weeks, if it is possible to deposit this amount in the Central Bank at%...))

[fred]

mmm that cloud kool aid tastes grear

lets hand over all our mission criticsl data to a company with ever changing managemen, support staffing and processes etc


wheres the data? who cares!

what are they able to do with the data? who knows!

are we at the mercy of their support? who cares!

what are their restore speed times? who knows!

and on it goes

reminds me of the recent "indestructible" azure cloud failure in sydney where they had no local staff with the skills to remediate despite technical architecture redundancies etc

[NikoB]

The problem is not fools in power (this is a long-term correctable factor), but the lack of severe punishment for guilty fools in the management of companies and countries, thanks to nepotism and corruption. It also means that such companies (and states in general) are clearly not market in nature - i.e. these are zombie structures that should be forcibly removed from the market.