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  • A group of hackers called The Black Shadow has demanded a ransom in bitcoin after compromising a large Israeli insurance company – Shirbit. They have already released sensitive client documents and have asked for bitcoin, which could rise to $4 million by the end of the week.

    Israeli Insurance Company Hacked

    According to a local media outlet, the first news about the hack came on Monday evening. The Black Shadow group posted an initial batch of compromised documents on a Telegram channel.

    Shirbit had contacted the National Cyber Directorate and Capital Market Authority for an investigation. Shortly after, the organizations confirmed the breach and said that the hackers have also leaked numerous insurance details, alongside the initial documents.

    Shirbit has many high-profile customers such as government employees. Company CEO Zvi Leibushor said that the safety of its clients is Shirbit’s priority.

    “Shirbit has invested millions of shekels in securing databases and protecting against cyber-attacks and meets all the stringent regulatory requirements in this area.” He added that the firm has invested “all resources and efforts needed for an effective safe and rapid solution to this cyber-attack, whose real goal is to try to harm the Israeli economy.”

    Demand Requested In Bitcoin

    After compromising Israeli insurance company, hackers have requested 50 bitcoins (about $960,000 with today’s prices).

    However, in case Shirbit failed to pay the attackers within the first 24 hours, the demand would double to 100 bitcoins. The procedure will repeat and double to 200 bitcoins if another 24 hours pass without paying.

    Moreover, the hackers threatened the insurance company that if it fails to transfer the Bitcoins by the end of this week, they will sell all compromised data to others.

    It’s worth noting that many other Israeli companies and high-profile individuals have recently become victims of similar hacks and demands.

    It was previously reported that 20 Israeli cryptocurrency executives, all clients of the local telecommunications giant Partner, were hacked by stealing their SMS messages.

    Another coverage informed that a new type of ransomware attacked called Pay2Key has been executed against some Israeli companies in the second part of 2020. The perpetrators had requested the demand in bitcoins, just like the Shirbit hack.

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