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Hackers Stole More Than $17 Million from Russian Bank Accounts in 2017

Pakistani government

According to Russian Central Bank Official, hackers stole more than $1 billion during 2017 and they stole $17 million from Russian banks using Cobalt Strike security-testing tool, the official informed Reuters on Tuesday.

However, Russia is being surveilled intensely due to the allegations imposed by western world that Russia is backing the hackers group and organizing attacks on the United States and Europe. Russian authorities have repeatedly denied those allegations.

Russian authorities are now more concerned about informing the world that Russia is one of the victims of cybercrime just like them and working hard to combat it and ensure cyber security.

Going into the details, Deputy Governor of the Central Bank Russia, Dmitry Skobelkin told the security conference in Magnitogorsk that 21 times the Russian Banks were attacked using Cobalt Strike during 2017. He further said there were 240 or more organizations that were under attack, hackers successfully compromised 11 credit organizations and the amount was stolen was more than 1 billion rubles which equate to $17.65 million roughly.

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Cobalt Strike is basically a security tool which is used to measure and test the strength of organization’s security implementations, however, it is also used by hackers to attack the banks all over the world. In 2016, a group known as Cobalt used this tool to attack ATMs in more than 12 countries, they used malicious software to force ATMs to deliver cash.

During the meeting, Skobelkin said that the central bank has directed more than 400 organizations which were targeted last year by the Cobalt group. The central bank and cybersecurity organization in Russia are working hard to ensure the security of local firms.