The European Investment Bank (EIB) has fallen victim to a cyber attack believed to be orchestrated by Russian hackers, following recent threats to destabilize the Western financial system. EIB confirmed the attack, stating that certain websites were affected. The incident occurred shortly after a group identifying as the Killnet gang, known for executing distributed denial of service (DDoS) attacks, warned of cyber attacks on Western financial institutions due to their support for Ukraine. While the EIB is addressing the attack, the spokesperson refrained from speculating on the responsible party. The Killnet gang, suspected to have ties to Russian authorities, has previously claimed credit for DDoS attacks targeting NATO and the US Air Force’s Strategic Air Command.
The EIB, as the European Union’s development bank with a balance sheet exceeding €500bn, faces potential disruption from this cyber attack. Cybersecurity experts suggest that the Killnet gang has a history of such attacks, citing their February assaults on NATO and the US Air Force. The attacks primarily target websites, causing outages but generally avoiding critical infrastructure. The unofficial tolerance of cybercrime by Russian authorities, especially when directed outside their borders, has allowed such activities to persist. This leniency has even led to the inclusion of code in malicious software to spare computers with Russian as the primary language from disruption.
In response to the ongoing threat, security experts recommend that businesses, especially those with public-facing services, bolster their defenses to ensure operational continuity. The situation underscores the persistent challenges posed by cyber threats, emphasizing the need for robust cybersecurity measures across various sectors.
