Hackers Demand 1 Million Dollars in XRP After Stealing Bank Data

Hackers demand to paid in Cryptocurrency

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Cryptocurrency seem to be the escape route for thieves and hackers after hackers who stole data belonging to thousands of Canadian bank users demanded to be paid one million Dollars’ worth of XRP for them not to release the data trove.

This latest hack hit two Canadian banks namely CIBC’s online bank Simplii Financial and the Bank of Montreal. According to reports from Canada, the stolen information was from 90,000 account holders. The stolen data includes account numbers, passwords, and names of the account owners. These notorious these have also said that they have all the security questions for the accounts and their answers. More to that they also have information regarding their social insurance numbers and even account balances.

The hackers are said to be operating from Russia. According to an email sent by the hackers, they want a total of 1 million dollars in XRP which was developed by Blockchain startup Ripple. The hackers had threatened to reveal the data if the amount was not sent before the end of business on May 28th. The email did not, however, reveal whether the payment would be paid in equivalence of Canadian dollar or the US dollar.

To prove that they actually had the information the hackers send details one customer from each back as a proof. According to the email, the hackers further explained that they had used an algorithm to generate account numbers which they then used to pose as the real account holders in order to get all the related security questions reset by both banks.

The email went ahead to state that:

“They provided too much information to half-authenticated accounts which gave us the chance to get all these information. They actually did not even check whether the passwords were correct until the security questions were correct or incorrect.”

When asked whether they had paid the demanded sum of money the Bank of Montreal stated that: “Our policies and practices do not involve making payments to fraudsters.” It seems they are yet to pay the required money so we will keep on following this developing story.

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