kelvinsecurity attacks BFC Forex

Incident Date:

May 3, 2022

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kelvinsecurity attacks BFC Forex


BFC Forex




Ludhiana, India

Punjab, India

First Reported

May 3, 2022

BFC Forex Suffers Ransomware Attack

Company Overview

BFC Forex, established in 2005, operates under the regulatory oversight of the Reserve Bank of India (RBI). The company's core services include currency exchange, money transfer options, and outward remittances. With over 30 branches, BFC Forex also offers a multi-currency card, enhancing the convenience for its customers. BFC Forex is a significant entity within BFC Group Holdings W.L.L, alongside Bahrain Financing Company (BFC) in Bahrain and Bahrain Exchange Company (BEC) in Kuwait.


The ransomware attack by Kelvinsecurity on BFC Forex was publicized through the group's dark web leak site. While the precise vulnerabilities exploited in this incident remain unspecified, ransomware attacks generally capitalize on software flaws or inadequate password policies to infiltrate systems. Following unauthorized access, attackers encrypt data and demand a ransom for its decryption.

The incident underscores the persistent cybercrime risks facing the financial sector. It is imperative for companies to adopt comprehensive cybersecurity strategies to safeguard their infrastructure and sensitive customer information against such threats.


Recent Ransomware Attacks

The Recent Ransomware Attacks (RRA) site acts as a watchtower, providing you with near real-time ransomware tracking of attacks, groups and their victims. Given threat actors’ overarching, lucrative success so far, ransomware attacks have become the most ubiquitous, and financially and informationally impactful cyber threat to businesses and organizations today.

The site’s data is generated based on hosting choices of real-world threat actors, and a handful of other trackers. While sanitization efforts have been taken, we cannot guarantee 100% accuracy of the data. Attack updates will be made as source data is reported by reputable sources. By viewing, accessing, or using RRA you acknowledge you are doing so at your own risk.