Brazil: the country’s second bank about to pay 50 Bitcoins in ransoms

I hold you, you hold me, by the goatee – Is it really derisory? While Binance Smart Chain is under a massive hack, another institution is under similar pressure. In Brazil, the country’s second largest bank, the Bank of Brasilundergoes theransomware attack. Indeed, no less than 50 BTC, or currently 1 million dollars, are claimed.

BRB bank has until 3 p.m. to pay 50 bitcoins

Last Monday, October 3, Banco BRB – also known as Banco do Brasil – suffered a ransomware attack. The media local Tecmundo reveals that the demanded ransom is 50 bitcoins. At the Brazilian exchange rate, this corresponds to 5.2 million reals. Hackers threaten to reveal to the general public the data recovered with this software.

He’s the cyber criminal Crydate who called the media on Thursday 06 announcing that the bank had until 3 p.m. to pay the ransom. The ransomware in question is LockBit, one of the most used software by cybercriminals. As a virtual hacker, he encrypts the files present on the system and demands the payment of a crypto ransom (here in bitcoins) for recovery. Perhaps the bank can ask help for Binance to provide them ?

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What we know about this crypto robbery from Banco do Barsil

According to information from the newspaper, the team is mainly Brazilian. They would have praised the ransomware to the group Lockbit. Following this rental, crooks can use the software for their own purposes, and Lockbit takes a share of the ransom. A true Business to Business service. For the time being, there have been no reactions to the case except for the following statement:

The BRB informs its customers that there is an intermittency in the systems. The technology teams are working to standardize the operation as soon as possible. »

Banco do Barsil statement of October 05

Banco do Brasil is one of the oldest banks in the country. It is also one of the oldest continuously operating banks in the world. Founded in 1808 it is today the second largest bank of the country behind Itau Unibanco Holding. This bank whichinvests in crypto development. Banco do Brasil is one of the most profitable banks in Brazil and is firmly established as a retail bank.

Headquarters of Banco do Brasil – Source: Wikipedia

What is Lockbit?

Lockbit software is designed to block access to computer systems users. The application has the ability to automatically scan important resources, propagate the infection and quietly encrypt all accessible computer systems on a network. the ransomware is then used for targeted attacks against organizations and companies like here for our ransom demand in BTC.

bank of brasil hacked

Formerly called ABCD virus from the name of the extension of encrypted files ” virus.abcd “, we call this software a crypto virusbecause the purpose is the payment of a ransom in cryptocurrencies. United States, China, France and a plethora of other nations have already been victims of this ransomware. The software, however, seems to avoid the Commonwealth of Independent States, made up of nine of the fifteen former Soviet republics.

The bank’s arbitration will not be easy: finance a criminal organization or disclose information about its customers. Between blockchain hacks, crypto exchange hacks and crypto viruses, advertising is definitely not in the best taste. The debate inherent in the tumultuous life of bitcoin is therefore not ready to end: is bitcoin a criminal’s currency?

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John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

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