LockBit Claims Massive Breach of the United States Federal Reserve System

LockBit Claims Massive Breach of the United States Federal Reserve System

The notorious ransomware group LockBit has claimed to have breached the United States Federal Reserve systems, allegedly exfiltrating 33 terabytes of sensitive banking data.

The group announced this purported attack on their dark web leak site on June 23, 2024, threatening to release the stolen information on June 25, 2024, at 20:27:10 UTC.

According to LockBit’s statement, the compromised data includes “Americans’ banking secrets” and information about the Federal Reserve’s money distribution system across its twelve banking districts.

The group has issued an ultimatum, demanding that the Federal Reserve hire a new negotiator within 48 hours and fire the current one. They disparagingly called the current one a “clinical idiot” for allegedly valuing Americans’ bank secrecy at only $50,000.

#RANSOMWARELate yesterday, LockBit claimed the Federal Reserve Board as a victim. Exfiltrated data was claimed to be 33TB of data. No sample data was provided at the time of post.

Ransom deadline: June 25th, 2024. pic.twitter.com/P1650zz3gQ

— Dark Web Informer (@DarkWebInformer) June 24, 2024

However, cybersecurity experts and analysts are skeptical about the validity of LockBit’s claims. The group has not provided any sample data to substantiate their allegations, which is unusual for their typical modus operandi.

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Brett Callow, a threat analyst at Emsisoft, suggested that this claim might be “complete and utter nonsense” designed to garner attention for the group’s “ailing RaaS (Ransomware-as-a-Service)”.

The Federal Reserve has not yet publicly confirmed or denied the alleged breach. If true, this attack could have significant implications for individual privacy, financial stability, and national security, given the Federal Reserve’s critical role in overseeing U.S. monetary policy and maintaining financial stability.

This claim comes from recent actions against LockBit by law enforcement agencies. In February, the FBI and other agencies disrupted LockBit’s online infrastructure, though the group has since resumed operations.

Additionally, in May 2024, the U.K.’s National Crime Agency revealed the alleged identity of LockBit’s leader, Russian national Dmitry Khoroshev. The U.S. government currently offers a $10 million reward for information leading to Khoroshev’s arrest or conviction.

As the situation develops, cybersecurity experts and government agencies will likely closely monitor for any evidence to substantiate LockBit’s claims. The alleged attack reminds us of the ongoing threats posed by ransomware groups and the importance of robust cybersecurity measures for critical financial institutions.

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The post LockBit Claims Massive Breach of the United States Federal Reserve System appeared first on Cyber Security News.

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