Chilean Bank Banco Estado Shuts Down Due To A Ransomware Attack
Chilean Bank Banco Estado Shuts Down Due To A Ransomware Attack
September 9, 2020
Chilean Bank Banco Estado Shuts Down Due To A Ransomware Attack
Chilean Bank Banco Estado Shuts Down Due To A Ransomware Attack
September 9, 2020

Banco Estado, the only public bank in Chile, had to shut down its nationwide operations on September 7 (Monday) due to a cyberattack that turned out to be a ransomware launched by REvil.

It has been reported according to a public statement that the branches will remain closed for at least one day but clarified that customers’ funds have not been affected by the incident.

However, by citing sources close to the investigation, ZDNet reported that the REvil ransomware gang is behind the attack, as it reportedly originated from an office document infected with the malware that an employee received and proceeded to open.

According to the report, the incident was reported to the Chilean authorities, who issued a cyber-security alert that warned about a massive ransomware campaign targeting the private sector in the country. 

Despite being spotted by IT experts at Banco Estado, they concluded that normal operations couldn’t take place on Monday by implying that the damage caused by the ransomware could be worse than expected.

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At 12:57 p.m. ET on Monday, Banco Estado managed to re-establish 21 of its branches in the country with limited services for deposits and remittances but closed them again at 2:00 p.m. ET.

Thus, REvil auctions data stolen in their attacks, listing it on their official’s dark web site, and often asking for Monero (XMR) as the method for collecting ransoms.

Source: Cointelegraph | Image: SecurityBrief Europe


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.