Patelco Credit Union Hit by RansomHub Ransomware: Data Security Concerns
RansomHub Ransomware Attack on Patelco Credit Union
Patelco Credit Union, a prominent financial institution based in California, has recently fallen victim to a ransomware attack orchestrated by the RansomHub group. This incident has raised significant concerns about the security of member data and the resilience of financial institutions against sophisticated cyber threats.
About Patelco Credit Union
Established in 1936, Patelco Credit Union is a member-focused, not-for-profit financial cooperative. With approximately $9 billion in assets and over 450,000 members, Patelco is one of the largest credit unions in the United States. The institution offers a wide range of financial products, including savings and checking accounts, loans, and mortgages, with a strong emphasis on personalized banking and financial education.
Attack Overview
On June 29, 2024, Patelco Credit Union experienced a ransomware attack that led to significant disruptions in their services. The RansomHub group claimed responsibility for the attack, asserting that they had gained access to sensitive data and subsequently published it on their dark web leak site. This breach prompted Patelco to temporarily shut down some services to protect member data and mitigate further damage.
RansomHub Group Profile
RansomHub is a relatively new player in the ransomware landscape, believed to have roots in Russia. Operating as a Ransomware-as-a-Service (RaaS) group, RansomHub affiliates receive 90% of the ransom money, with the remaining 10% going to the main group. The group has targeted various sectors across multiple countries, including the US, Brazil, Indonesia, and Vietnam. Their ransomware strains are written in Golang, a language gaining popularity among cybercriminals for its efficiency and versatility.
Penetration and Vulnerabilities
While the exact method of penetration remains unclear, it is likely that RansomHub exploited vulnerabilities in Patelco's cybersecurity infrastructure. Common attack vectors include phishing emails, unpatched software, and weak network security protocols. The use of Golang in their ransomware strains suggests a sophisticated approach, potentially bypassing traditional security measures and making detection more challenging.
Impact on Patelco Credit Union
The ransomware attack has significantly impacted Patelco's operations, causing temporary service shutdowns and raising concerns among members about the security of their personal and financial information. Patelco has been actively working to restore services and enhance their cybersecurity measures to prevent future incidents.
Sources
See Halcyon in action
Interested in getting a demo?
Fill out the form to meet with a Halcyon Anti-Ransomware Expert!