Russian-linked gang threatens to release ‘juicy banking information’ from Federal Reserve: Cybersecurity experts analyze the situation

A Russian-linked gang known as LockBit has threatened to release “juicy banking information” stolen from the Federal Reserve if their demands are not met. The cybercriminals claimed to have ransomed 33 terabytes of data from the central bank, giving US officials a deadline to pay an undisclosed amount.

Despite the threat, experts have speculated that this may be a ploy by LockBit to gain attention and improve their standing in the hacking community. The group uploaded financial information on the dark web, but it only included links to a Federal Reserve press release from mid-June and data from a previous hack on Evolve Bank and Trust.

LockBit’s power seems to have been diminished after a major international law enforcement operation named Cronos seized their ransomware infrastructure. The Federal Reserve has been contacted for comment on the situation.

The gang revealed the central bank as their latest victim in a statement on the dark web, threatening to release the stolen data. The announcement mentioned the Federal Reserve’s operation in twelve banking districts across the country.

With 33 terabytes of banking information at stake, cybersecurity experts are analyzing the uploaded links to determine the extent of the data breach. While news broke that LockBit had uploaded 21 links to the dark web, there is still no trace of the supposed “secret” files.

HackManac, a company that analyzes cyber attacks, posted about a cease and desist order issued by the Federal Reserve against Evolve Bank & Trust for deficiencies in risk management and compliance. The links on the dark web site lead to directories containing data belonging to Evolve Bank.

The situation remains ongoing as authorities work to assess the extent of the data breach and the potential impact on the Federal Reserve and Evolve Bank.