Ransomware Attack on Best Reward Federal Credit Union by Akira Group

Company Overview

Best Reward Federal Credit Union, a member-owned financial cooperative, provides a variety of financial services including loans, deposit rates, and mobile banking solutions. As of mid-2023, it boasts a membership of 12,512 with an average share balance per member of $9,911. The institution is noted for its robust financial health, with a total operating income reaching $4,375,030 in 2022. It is federally insured by the National Credit Union Administration (NCUA) and emphasizes safety, soundness, and transparency in its operations.

Details of the Cyber Attack

The ransomware group Akira, known for its affiliation with the defunct Conti ransomware gang, has targeted Best Reward Federal Credit Union. This attack involved the exfiltration of sensitive data including financial documents and personal information of thousands of members such as names, Social Security Numbers, addresses, emails, and phone numbers.

Vulnerabilities and Targeting

The credit union's significant member base and the extensive amount of sensitive financial data it handles make it an attractive target for cybercriminals like the Akira group. Despite its strong financial standing and security measures, the inherent risks associated with handling large volumes of personal and financial data may have contributed to its vulnerability to such sophisticated ransomware attacks.

Akira Ransomware Group Profile

Akira, emerging in early 2023, has quickly gained notoriety for targeting a wide range of sectors with its double extortion tactics. The group's method involves stealing data prior to encrypting the victim's systems, demanding ransoms for both decryption and non-disclosure of the stolen data. Their operations have expanded to include attacks on Linux-based VMware ESXi virtual machines, showing their adaptability and increasing threat level.

Sources:

• Trend Micro Security News
• FBI IC3 Report
• Best Reward Federal Credit Union Website