The companies – TransUnion and Experian – were the ones that were hit by the cybercrime attack.
According to Times Live, the hackers, the Brazil-based N4ughtySecTU Group, who had previously breached TransUnion's security and firewalls, claimed to have successfully evaded the safeguards of the company once again, following which they stole the data.
Apparently, the hackers have demanded $30m [about R565m] from TransUnion and $30m from Experian.
The hackers, in a message sent to the managers and directors of the impacted companies, stated: “Ensure your response teams contact us on Session [a private communication platform] for payment instructions.”
While acknowledging the demands, TransUnion and Experian refuted the group's allegations of an ongoing hack on their systems.
“Following recent media coverage, TransUnion South Africa confirms it is aware of a financial demand from a threat actor asserting they have accessed TransUnion South Africa’s data. We have found no evidence that our systems have been inappropriately accessed or that any data has been exfiltrated,” TransUnion said.
“We’ve likewise seen no change to our operations and systems in South Africa related in any way to this claim. We are continuing to monitor closely. We treat matters regarding our information security seriously, and data security remains our top priority,” they continued.
Previously, in March 2022, N4ughtysecTU claimed responsibility for targeting TransUnion in their ransomware campaign.
TransUnion South Africa later confirmed the hack, confirming that at least 3 million individuals were affected.
Apparently, the threat actors gained access to the personal data of over 54 million people, which included information about their dates of birth, ID numbers, gender, marital status, and other sensitive facts.
Experian also suffered a data breach in August 2020, reported by the South African Banking Risk Centre (SABRIC). The data breach compromised the personal information of around 24 million individuals and several business entities to a fraudster.
Karabo Phungula, an Experian data fraudster, was given a 15-year prison sentence in March by the Specialized Commercial Crimes Court for obtaining the dataset under false pretence.
According to a report by Cryptopolitan, the breach happened when malicious code was added to Ledger's Github repository for Connect Kit, an essential component that is required by several DeFi protocols in order to communicate with hardware wallets for cryptocurrencies. Every application that used the Connect Kit had issues with its front end due to the malicious code. Notable protocols affected by this security flaw were Sushi, Lido, Metamask, and Coinbase.
In regards to the incident, Ledger informed that one of its employees had fallen victim to a phishing attack, resulting in the unauthorized leak of a compromised version of the Ledger Connect Kit. The leaked code revealed the name and email address of the former employees. It is important to note that the developer was first believed to be behind the exploit by the cryptocurrency community. Ledger subsequently stated, nevertheless, that the incident was the consequence of a former employee falling for a phishing scheme.
Ledger, after acknowledging the incident, identified and removed the exploited version of the software. However, despite the swift response, the damage was already done, since the software was left vulnerable for at least two hours, in the course of which the threat actors had already drained the funds.
The company acted promptly, identifying and removing the harmful version of the software. However, despite Ledger’s quick response, the damage had already been done in approximately two hours, during which the hackers drained funds.
This incident has raised major concerns regarding the security infrastructure of decentralized applications. DeFi protocols frequently rely on code from multiple software providers, including Ledger, which leaves them vulnerable to multiple potential points of failure.
This incident has further highlighted the significance of boosting security protocols across the DeFi ecosystem.
The victims who were directly affected by the attack included users of services such as revoke.cash. Also, the service normally used in withdrawing permissions from DeFi protocols following security breaches was compromised. Users who were trying to protect their assets were unintentionally sent to a fraudulent token drainer, which increased the extent of the theft.