http://krebsonsecurity.com/2012/09/e...ng-hole-sites/
Security experts are accustomed to direct attacks, but some of today’s more insidious incursions succeed in a roundabout way — by planting malware at sites deemed most likely to be visited by the targets of interest. New research suggests these so-called “watering hole” tactics recently have been used as stepping stones to conduct espionage attacks against a host of targets across a variety of industries, including the defense, government, academia, financial services, healthcare and utilities sectors.

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