Cyberattacks Target Greek Banks reported yesterday that threats had been made by hackers against a number of Greek banks, demanding ransom payments to the tune of 50 bitcoins – currently worth close to $19,000. The group, called Armada Collective apparently sent the message on the 26th November that it would overload the bank systems unless its demands were met. This news follows many other such cases of cyber-crime.

Thankfully, members of the Bank of Greece, the Greek Police’s Cyber Crime Unit and the National Authority Against Electronic Attacks met, along with Greek bank representatives and internet security providers at the weekend and managed to protect the bank’s security systems to thwart the attack. Kathimerini reports that there was no issue with transaction or personal data security.

Other targets of the group include Swiss companies and Thai banks. One Swiss company is reported to have paid the ransom (20 BTC in this case), only to find that the attacks continued. The decision to give into extortion is puzzling, but perhaps not as odd as a group targeting Greek banks given the current Greek economic status!

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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