Cyber Crime

ICICI Bank Data Leak: Bashe Ransomware Group Claims Responsibility for Data Breach


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The ransomware group Bashe has reportedly claimed responsibility for breaching the database of ICICI Bank, one of India’s top banking institutions. The hackers, who have been active on dark web forums, have set a deadline of January 24, 2025, for ICICI Bank to pay a ransom. If the bank fails to meet their demands, the group warns it will release sensitive data to the public.

The breach is said to involve confidential data belonging to ICICI Bank, although the bank has not yet confirmed or commented on the incident. Bashe posted a countdown timer on dark web forums, indicating the urgency of their demands. The group also offered the bank the option to “buy the data immediately” to prevent its release.

Bashe Group’s Rising Threat

Bashe, a relatively new but dangerous player in the world of cybercrime, emerged in April 2024. The group is believed to have ties to LockBit, one of the most notorious ransomware operators. Bashe has been targeting high-profile industries, including banking, healthcare, logistics, and technology. Their targets span multiple countries, including India, the United States, the United Kingdom, France, Germany, and Australia.

Known for their sophisticated tactics and the use of Tor-based infrastructure, which helps them remain anonymous, Bashe has become a major threat to organizations worldwide. The group’s strategy involves threatening to expose stolen sensitive data unless their ransom demands are met.

Previous Attacks and Growing Risks

This is not the first time Bashe has targeted the Indian banking sector. In December 2024, the group claimed responsibility for breaching Federal Bank, stealing a database with over 600,000 entries. This attack raised concerns about the increasing vulnerability of financial institutions to ransomware attacks.

With ICICI Bank now reportedly in their sights, experts are warning that the threat posed by Bashe is escalating. The group’s focus on high-value targets like banks and critical infrastructure highlights the growing risks to the global banking industry.

ICICI Bank’s Vulnerability

ICICI Bank has not yet issued an official statement regarding the alleged breach. However, this isn’t the first time the bank has faced cybersecurity concerns. In April 2023, a Cybernews investigation revealed that sensitive data was leaked due to a system misconfiguration. ICICI Bank denied the allegations at the time.

In 2022, the Indian government designated ICICI Bank’s resources as “critical information infrastructure,” meaning any breach could have serious implications for national security. With millions of customers and a vast digital infrastructure, ICICI Bank remains a highly attractive target for cybercriminals. A breach could potentially expose sensitive customer information, damage the bank’s reputation, and undermine public trust.

Increasing Cybersecurity Threats in India

The alleged breach of ICICI Bank comes at a time when Indian businesses are increasingly becoming targets of ransomware attacks. Cybersecurity experts are urging financial institutions to strengthen their security measures to prevent future breaches.

Bashe’s connection to LockBit adds another layer of concern. The group’s international reach and focus on critical industries underline the need for a coordinated global response to combat cyber threats.

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