Sodinokibi Hacks Travelex – Demands $3 Billion Bitcoin

Sodinokibi Hacks Travelex

Sodinokibi Hacks Travelex, Demands $3 Billion Bitcoin

Ransomware is one of the most devastating technologies in the cryptocurrency market. This was proven again when Sodinokibi, a collective of hackers operating a ransomware program, attacked Travelex. These cybercriminals are demanding $3 billion in Bitcoin from Travelex after hacking the exchange on December 31st, 2019. Implemented on the early hours of New Year’s Eve, this hack prompted Travelex to shut down their services going forward.

That is until the ransomware can be removed from their network. Owned by Finabir, an Abu Dhabi-based financial institution, Travelex is operational in seventy nations. It maintains globally currency exchanges with the fiat coin and Bitcoin. Millions are now shutout from their collected BTC and Fiat Coins.

The Hackers

Most aren’t aware of the Sodinokibi Hacker Group, with them more commonly known as Revil. They maintain an infamous collection of ransomware that is secretly proposed as a SaaS Program. By keeping an online profile through the darknet, cybercriminals can purchase the program and use its customization options to attack specific internet demographics. Whoever is affected by the program is extorted for large quantities of cash.

There isn’t much that can be done in this situation, with the London Metropolitan Police assisting the National Crime Agency in the United Kingdom. They’ll conduct a thorough investigation, hoping to locate critical details that can lead to an arrest.

False Insurances

The chief executive officer with Travelex, Tony D’Souza, spoke to reporters regarding this attack on his exchange. He expressed to the clientele that there hadn’t been any evidence regarding a breach of data. However, shutting down systems indicates another reality towards this situation. It could potentially be that Sodinokibi can collect sensitive data regarding clients, which would prompt the extortion charges.

Refusal to pay could mean millions of traders having their birth dates, social insurance numbers, bitcoin and credit card information stolen.

Tony officially stated: “Our focus is on communicating directly with our partners and customers to protect them and their information from any further compromise. We take very seriously our responsibility to protect the privacy and security of our partner and customer’s data as well as provide an excellent service to our customers, and we sincerely apologize for the inconvenience caused.

Travelex continues to offer services to its customers on a manual basis and is continuing to provide alternative customer solutions in the interim. We are working tirelessly to bring our systems back online.”