There has been an attack on the Federal Reserve and an estimated 33 Terabytes of highly sensitive information has been compromised according to Lockbit 3.0

The cybercriminal group Lockbit has claimed responsibility for a cyberattack that targeted the Federal Reserve of the United States of America. The news came through a post on the “Dark Web” leak site that is associated with numerous ransomware perpetrators, this sounded the alarm for many financial and government sectors.

On June 23rd, 2024 Lockbit announced that it had gained access to the Federal Reserve compromising an estimated 33 terabytes of sensitive financial information. They also went on to report that this included details of American banking activities which if verified to be true will be recorded as the most substantial breaches of financial data in history.

Even though the Federal Reserve has not made a public announcement confirming the breach or given any details on their efforts to prevent this information from being public; Lockbit 3.0 issued an ultimatum on the Dar Web for them to replace their current negotiator within 48 hrs and to dismiss the current one whom the attackers referred to as a “clinical idiot” for valuing American banking secrecy at $50,000. This ransomware group is notorious for its aggressive negotiation tactics, often demanding large sums of money. 

In conclusion, this cyberattack is a wake-up call for everyone reliant on digital infrastructure. In a world where cyber threats are getting more frequent, and more complex, this incident urges everyone to keep a closer eye on their cybersecurity tactics and make sure that you are following necessary steps to protect critical infrastructure in your organization as well as personal assets from future attacks.