On April 19, Twitter users reported that Banco de Venezuela, the largest bank in the country, had fallen victim to a ransomware attack.

Cybersecurity portals monitoring these attacks have confirmed the information. The ransomware attack was carried out by the LockBit ransomware, which encrypts a victim’s files or data, making them inaccessible, and then demands a ransom, usually in a cryptocurrency, from the victim to decrypt and regain access to their files.

LockBit ransomware often spreads through phishing emails or using brute-force attacks on weak passwords. Banco de Venezuela issued a statement regarding the spread of information on social media without denying or confirming the news.

However, electronic services seem to be functioning normally, and the bank assures its customers that its platform and electronic channels are operating normally with complete integrity and security.

The seized information could include both internal bank operations and customer data. The hacking announcement states that all available information will be published, but no further details about the obtained information were provided.

According to LockBit’s portal, the bank has until May 10 to pay the ransom. The ransom amount was not disclosed, but it is known that LockBit only accepts payments in cryptocurrencies such as Bitcoin, Monero, or Zcash.