Hackers Demand $1 Million in XRP After Bank Data Theft

THE CANADIAN PRESS  HO Simplii Financial logo is seen in this undated handout

Yesterday, CIBC's Simplii Financial and the Bank of Montreal announced that some Russian-based hackers have stolen the identifying personal information of a combined 90,000 different account holders. Not the best way to enter the week, right?

Two Canadian banks have reported that they may be targets of a hack, after bad actors claimed that they electronically accessed personal and account information.

The bank advises its customers to monitor their accounts for signs of suspicious activity, and also to ensure that they do not use simple passwords.

The bank said it received a tip over the weekend that customer data had been illegally obtained, and after a preliminary investigation, chose to go public with the news. Do not respond to these emails if you get one.

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It adds that clients who are victims of fraud because of the issue will receive 100 per cent of the money lost from the affected bank account.

Simplii has been more specific on numbers, reporting that the crooks appear to have details on more than 40,000 of its customers.

Bank of Montreal reportedly said it believed the attack originated from outside of Canada and was confident that any vulnerabilities that led to the theft of customer data had been closed off.

"We are monitoring the situation closely with the Office of the Superintendent of Financial Institutions", she said in an emailed statement.

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Hackers who stole information on thousands of Canadian bank users have demanded $1 million-worth of the cryptocurrency XRP to not release the data trove. Simplii also says it moved quickly to implement enhanced online fraud monitoring and online banking security measures.

Both banks said they both took additional security measures after learning of the potential breach and would be directly contacting customers whose accounts may have been compromised.

Overall, this is quite a big deal, with a large amount of personal information now in the hands of malicious hackers, the authorities at the banks in question are now in quite a tricky position.

The hackers apparently threatened to make the data public, the spokesman said.

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