LockBit Hacks 33TB of User Data From Evolve Bank

Russia-linked ransomware group LockBit has once again made international headlines due to a major hack. Reports suggest that Evolve Bank lost 33 TB of user data from a malicious link sent to the bank.

Crypto-friendly Evolve bank falls victim to Lockbit’s malware

LockBit has been silent for a few months. This comes after international law operatives raided the group in February 2024. Shortly after, they identified Dimitry Yuryevich Khoroshev, a Russian citizen, as the lead developer and operator of “LockBitSupp” behind LockBit.

Towards the end of June, LockBit published a massive cache of files allegedly stolen from the US Federal Reserve banking system. Some of those files belonged to a US financial institution, Evolve Bank and Trust.

Later, the ransomware group threatened to publish the stolen data if their demands were unmet. The stolen data includes personally identifiable information, such as name, address, social security and tax ID number, date of birth, account balance, and email address. 

The bank admitted, “In late May 2024, Evolve Bank & Trust identified that some of its systems were not working properly. While it initially appeared to be a hardware failure, we subsequently learned it was unauthorized activity […] We engaged outside specialists to investigate what happened and what data was affected, as well as a firm to help us restore our services. We reported this incident to law enforcement.”

The stolen PII data directly affects the crypto community. LockBit attacked 155,586 accounts, some linked to Bitfinex and others to Nomad and Copper. 

In the aftermath, crypto users have been cautioned to monitor their account activity closely and take protective measures.

According to the Cybernews ransomware monitoring tool, Ransomlooker, LockBit is responsible for about 50% of ransomware attacks since 2022. The group often receives millions in Bitcoin as ransom payouts.

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Florence Muchai

Florence Muchai is an experienced crypto journalist with 4 years experience in Crypto, Blockchain, Web3, NFT and AI. Florence holds a Bachelor's Degree in Disaster Management and International Diplomacy. She also has a Master's Degree in Clinical Psychology. Florence enjoys being a digital nomad and her writings tell value, wealth and in-depth understanding of decentralized and traditional finance.

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