LockBit Claims Hacking Federal Reserve, Threatens Data Release

The ransomware group LockBit alleges it has hacked the Federal Reserve and will release 33 terabytes of data if a ransom is not paid.
LockBit Claims Hacking Federal Reserve, Threatens Data Release
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Key Takeaways

  • LockBit claims to have hacked the Federal Reserve, demanding a ransom for 33 terabytes of data.
  • Cybersecurity experts doubt the validity of LockBit's claims, citing lack of evidence.
  • LockBit's alleged leader, Dmitry Khoroshev, has been identified and sanctioned by multiple countries.

The ransomware group LockBit has claimed responsibility for hacking the Federal Reserve Bank and is threatening to release 33 terabytes of sensitive data.

This data allegedly contains “juicy banking information” about Americans, with the group demanding a higher ransom than the offered $50,000.

About LockBit

LockBit, active since 2019, has made millions from ransom payments despite a significant law enforcement crackdown earlier this year.

The group asserts it has been negotiating with the Federal Reserve, but there is skepticism from cybersecurity experts about the validity of these claims. The Federal Reserve has not confirmed the hack, and no sample data has been released by LockBit to substantiate their assertions.

Cybersecurity analyst Dominic Alvieri and vx_undeground, a malware sample hosting service, have both expressed doubts. Alvieri suggests the claims are likely false, while vx_undeground humorously downplays the situation, implying the hack could be trivial.

Brett Callow, a threat analyst at Emsisoft, believes LockBit’s claims are an attempt to regain attention.

The ransomware group has faced significant pressure recently, with the U.K.’s National Crime Agency identifying its alleged leader, Russian national Dmitry Khoroshev, who is now sanctioned and has a $10 million bounty for information leading to his arrest.

With the deadline for the ransom set for Tuesday, the veracity of LockBit’s claims will soon be revealed.

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