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Ransomware Gang Forces Top Chilean Bank Offline

Ransomware attacks have continued to intensify across the world. With the lockdown still in full force, more companies have had to deal with security issues. The latest company to fall victim to this security challenge is Banco Estado, one of the three largest Chilean banks. Easing Off the Attack Gradually Earlier this week, the bank announced that it had shut down all operations nationwide in response to a ransomware attack. Per a public statement, the bank explained that it would close its branches for 24 hours, but promised customers of the safety of their funds. Citing sources close to the investigation,…

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Major Chilean bank shuts down all branches following ransomware attack

There is a nationwide alert for future ransomware campaigns against Chilean companies. Banco Estado, the only public bank in Chile and one of the three largest in the country, had to shut down its nationwide operations on Monday due to a cyberattack that turned out to be a ransomware launched by REvil. According to a public statement, the branches will remain closed for at least one day, but clarified that customers’ funds have not been affected by the incident. Citing sources close to the investigation, ZDNet reported that the REvil ransomware gang is behind the attack. It reportedly originated from…

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Chile-based crypto exchange denies fraud allegations

Chilean cryptocurrency exchange, Buda.com has denied allegations that it transferred client funds without authorization, a local news site has said. Per the report Itau bank now known as Itaú Unibanco, a private sector bank based in São Paulo, Brazil filed a lawsuit against the exchange and that both the bank and the exchange were set to appear before the country’s Tribunal for the Defense of Free Competition (TDLC).   The report further said that the private South American bank had also accused Buda of forgery and for creating a fake profile to allegedly facilitate the fraud. The report detailed the…

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