Banco de Venezuela, the largest financial institution in the country, has suffered a devastating ransomware attack that has left its digital infrastructure compromised.
The attack reportedly took place on April 19, and sources in the cybersecurity community have identified the culprit as the LockBit ransomware.
According to experts, the attackers demanded a ransom in cryptocurrencies, specifically bitcoins, Monero, or Zcash, to restore access to the bank’s data.
The hackers also threatened to release sensitive customer information on the dark web if their demands were not met by May 10.
Banco de Venezuela manages over 21.7 million bank accounts, making the potential fallout from this attack extremely significant.
Despite the reports, the bank has not confirmed or denied the incident, but has claimed that its electronic communication channels are functioning normally.
This is not the first time that LockBit ransomware has targeted a financial institution, as the Central Bank of Brazil was hit with a similar attack last year.
In that case, the hackers demanded a ransom of 50 BTC, which was worth more than $995,000 at the time.