Brazil’s BRB Bank Pays 50 BTC After Being Targeted by a Ransomware Attack

Bank of Brasilia in Brazil, which is controlled by the government, was ransomware victim on October 3. A group of hackers demanded 50 Bitcoin as a reward for their users’ data not being leaked.

Local media Tecmundo reports that a hacker named “Crydat”, contacted them to inform the Bank that they had to pay the equivalent in Brazilian reais to the Bank before October 06.

Officially, the Bank of Brasilia did not comment on hackers’ demands. The Federal Police’s Special Police Department to the Suppression of Cybercrime is investigating the matter.

Hackers used The LockBit “High End” Ransomware

Tecnomundo interviewed anonymous sources who claimed that the hackers used Lockbit ransomware from one of the most powerful international ransomware organizations. This group operates under the same name and software as the hackers. Nearly 350 organizations had been targeted by Lockbit as of the start of 2021.

Source: Twitter

LockBit is one of the most prominent criminal gangs that specializes in information theft and extortion. They have been operating out of the shadows since 2019. The group is responsible for 40% percent of all ransomware attacks since the fall of the Conti group.

The LockBit ransomware was upgraded to version 3.0 by the group. The group also offers a bounty program up to $1,000,000 (which can be paid via Zcash, a privacy-oriented cryptocurrency) for those who report vulnerabilities and improve ideas.

The criminal group attacked several countries including Argentina, Peru, Venezuela, Peru and Peru. They recently attacked OSDE, a 1972-founded healthcare network. From it, they extracted 140 gigabytes worth of information about patients, doctors and affiliates. To keep the data secretive, they demanded $300K in crypto. The payment was not made by OSDE, and all information about the attack was published on the group’s website.

Many criminals use cryptocurrencies in Brazil

Brazil is the country in Latin America with the highest number of cryptocurrency scams. The Brazilian justice system had to collaborate with the FBI/CIA to strengthen its special forces, and improve its tracking techniques.

According to SonicWall analysis data, Brazil has been a top destination for ransomware groups since 2021. Hackers managed to steal more bitcoins and other cryptocurrency than $33 million during that year. Brazil was one of the four countries most affected.

SonicWall: Top 10 Countries with the Most Ransomware Volume in 2021

Kaspersky, a cybersecurity firm, found that 56% of Brazilian businesses had been affected by ransomware attacks. 80% assured them that they wouldn’t pay ransom.

However, 78% said that they would pay ransom if attacked again. This trend seems to be consistent with other ransomware victims from other countries.

While it’s not right to pay hackers as it would finance a criminal organization it could have an economic impact on millions of people. This makes it difficult to balance the two.

CryptoPotato’s first post, Brazil’s BRB Bank Pays 50 BTC after Being Targeted By a Ransomware Attack, appeared first on CryptoPotato.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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