UAE Bank Victimized by Data Breach and Bitcoin Ransom

Another customer data breach is in the news, only this time, the results are worse than we’re used to. The breach occurred in the United Arab Emirates, and the attack is being labeled as the biggest in the country’s history.

According to Bitcoinist.net, Sharjah bank in the UAE was the victim of a massive hack that took place on November 18th of this year. Customer data was held by “Hacker Buba,” the alias of the alleged attacker. Buba leaked the information on social media outlets and explained that he wouldn’t stop until the bank agreed to pay the bitcoin ransom he had set forth.

The bank’s chief financial and operating officer explained:

Following the initial attack, Twitter suspended Buba’s account, but it appears the hacker had a few tricks up his sleeve. The following day, Buba was back on Twitter, and in an act of revenge, had allegedly uploaded account statements of approximately 500 bank customers in a single tweet. He then went about texting and emailing the bank’s customers, telling them that their accounts were in his hands and that they’d better pay his ransom if they didn’t want their information released publicly online.

Source: http://www.newsbtc.com/2015/12/06/uae-bank-victimized-by-data-breach-and-bitcoin-ransom/

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