Brazil’s BRB Bank Pays 50 Bitcoins After Suffering a Ransomware Attack

On October 3, Bank Brasilia, a bank in Brazil controlled by the government, fell victim to ransomware when a group of hackers demanded 50 bitcoins as a reward for not leaking their users’ data.

According to local media Tecmundo, a hacker called “Crydat” contacted them to inform them that the bank had to pay the equivalent of R$5.2 million before 15:00 on October 6.

Bank Brasilia has not officially commented on the hackers’ demands. However, the case is being investigated by the special police department of the Federal Police to combat cybercrime.

Hackers used LockBit “sophisticated” ransomware

According to anonymous sources conducted by Tecnomundo, hackers used the ransomware “LockBit” of one of the largest international ransomware groups, which operates under the same name as its program. By early 2021, Lockbit had targeted nearly 350 organizations around the world.

source: Twitter

The LockBit ransomware group is one of the leading criminal gangs dedicated to information theft and extortion of large corporations, and has been operating from the shadows since 2019. Currently, the group has been responsible for 40% of all ransomware attacks since the closure of Conti Group.

Recently, the group upgraded LockBit ransomware to version 3.0. They also offer a reward program of up to $1 million (paid in privacy-oriented cryptocurrency Zcash) to those who report vulnerabilities, improvement ideas and other actions.

This criminal group carried out several attacks in Mexico, Venezuela, Peru, Panama and Argentina, where they recently attacked the Organization for Security and Cooperation in Europe: a network of healthcare services created in 1972, from which they extracted about 140 gigabytes of information about patients, doctors and affiliates, demanding payment of 300,000 Dollars of cryptocurrency to keep the locked data confidential. But it seems that the Organization for Security and Cooperation in Europe did not pay the amount, and the organization published all the information on its website.

In Brazil, many criminals use cryptocurrency

Brazil is one of the Latin American countries with the most cryptocurrency scams, so much so that the Brazilian justice system has had to work with the FBI and the CIA to bolster its own forces and improve its tracking technologies.

According to the data published by the analysis platform SonicWall, since 2021 Brazil has become one of the preferred destinations for ransomware groups. That year, hackers managed to steal more than $33 million in bitcoin and other cryptocurrencies, making Brazil among the four countries most affected by ransomware.

Top 10 countries with the most ransomware in 2021, Source: SonicWall
Top 10 countries with the most ransomware in 2021, Source: SonicWall

Even a survey conducted by cybersecurity firm Kaspersky revealed that 56% of Brazilian companies have been attacked by ransomware, with 80% confirming that they would not be willing to pay any ransom.

However, 78% of the organizations that were attacked indicated that if they were attacked again, they would pay a ransom for their data. This appears to follow the general trend observed among ransomware victims in other countries.

While it is not right to pay money to hackers because it will finance a criminal organization, disclosure of personal information held by banks could affect millions of users financially. So it is difficult to balance the balance in this case.

A Brazilian BRB Bank post paying 50 BTC after being targeted by a Ransomware Attack first appeared on CryptoPotato.

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