Yubico Blog – 7.17.24
In late 2023, the U.S. subsidiary of the Industrial and Commercial Bank of China was hit with ransomware, creating a ripple effect across the U.S. Treasury market. In February 2024, Bank of America reported a breach impacting 57,000 account holders related to a compromise with a third-party software provider. And as recently as June, a ransomware attack on the US Federal Reserve targeted Evolve Bank where attackers leaked 33 Tb worth of sensitive data from thousands of customers. All of these attacks have one thing in common: they’re tied to LockBit, one of the most prolific organized cybercrime groups, known for its ransomware toolkits and a history of exploiting credentials. Despite a coordinated takedown that was years in the making, LockBit continues to be a significant threat.
Source: Adapting to new cybersecurity regulations and addressing evolving threats within financial services