On Monday, August 24, 2024, one of the cooperatives within the Sicoob credit system in Brazil experienced a significant cyber incident. The attack, suspected to involve a Ransomware as a Service (RaaS) group, reportedly compromised approximately 1 TB of data. While the exact details of the affected cooperative have not been disclosed, the incident did not directly impact the day-to-day operations of other cooperatives within the Sicoob network.
The cyberattack was initially revealed through social media posts from malware monitoring accounts, which claimed that the RansomHub group was behind the breach. These posts indicated that the hackers had accessed sensitive information, including Non-Disclosure Agreements, personal data of customers and employees, and various financial documents. The attackers purportedly exploited vulnerabilities in the cooperative’s systems to carry out their operations.
In response to the breach, Sicoob swiftly activated its cybersecurity protocols to contain the situation and mitigate any potential risks to its members. The organization has notified relevant authorities and engaged cybersecurity experts to investigate the extent of the attack. Despite the breach, Sicoob has assured that all cooperatives within the system are continuing to operate normally, with financial transactions processed through unaffected systems.
Sicoob has reaffirmed its commitment to enhancing information security and protecting its systems and data. The cooperative system remains dedicated to maintaining the trust and integrity of its services while investing in measures to prevent future incidents. The company continues to update its members and stakeholders on the situation as the investigation progresses.
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