Ransomware Attack on Financoop by Akira Group Threatens Sensitive Data
Incident Date:
July 11, 2024
Overview
Title
Ransomware Attack on Financoop by Akira Group Threatens Sensitive Data
Victim
Financoop
Attacker
Akira
Location
First Reported
July 11, 2024
Ransomware Attack on Financoop by Akira Group
Overview of Financoop
Financoop, officially known as Caja Central Financoop, is a financial institution based in Ecuador, specializing in providing financial products and services to savings and credit cooperatives and mutual savings organizations. Founded in 1999, Financoop operates as a second-tier cooperative financial institution, supporting 138 member cooperatives. The institution is known for its robust financial products, transactional services, and commitment to technological integration and sustainability.
Details of the Attack
Financoop recently fell victim to a ransomware attack orchestrated by the Akira group. The attackers have threatened to release 20GB of sensitive data, including financial information and internal business documents. This breach has significant implications, potentially affecting numerous clients and the integrity of Financoop's operations.
About the Akira Ransomware Group
Akira is a rapidly growing ransomware family that emerged in March 2023. The group targets small to medium-sized businesses across various sectors, including finance, government, and technology. Akira employs double extortion tactics, stealing data before encrypting systems and demanding a ransom for both decryption and data deletion. The group is known for its unique dark web leak site with a retro 1980s-style interface.
Penetration and Vulnerabilities
Akira's tactics include unauthorized access to VPNs, credential theft, and lateral movement to deploy ransomware. They use tools like RClone, FileZilla, and WinSCP for data exfiltration. In some cases, Akira has deployed a previously unreported backdoor. The group's ability to adapt and target a wide range of organizations makes them a significant threat. Financoop's extensive digital integration, while enhancing service delivery, may have also exposed vulnerabilities that Akira exploited.
Implications for Financoop
The attack on Financoop underscores the growing threat of ransomware to financial institutions. The potential release of sensitive financial data could have far-reaching consequences for Financoop's clients and its reputation. As a key player in Ecuador's cooperative financial sector, Financoop's ability to recover and reinforce its cybersecurity measures will be crucial in maintaining trust and stability.
Sources
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.