Federal Reserve Breached, Countless Americans' Banking Secrets Being Held for Ransom: Hacking Group


The U.S. Federal Reserve may have been the victim of a hacking scheme, endangering some 33 terabytes (each terabyte being 1,000 gigabytes) of Americans’ sensitive financial information, United Press International reported Monday.

LockBit, the cybergang that claimed the attack, issued a Tuesday deadline for the Fed to cough up a ransom for the stolen data.

With both sides largely silent, it was unknown exactly what banking information the group had — or if the hack was even real.

Cyberattack tracker HackManac posted a screenshot of LockBit’s Sunday dark net announcement about the alleged Fed breach.

“33 terabytes of juicy banking information containing Americans’ banking secrets,” the group’s post said.

Wealthy Man Allegedly Shoves Woman Off Her Bike, Flees the Scene Leaving Her a Bloody Mess

“You better hire another negotiator within 48 hours,” LockBit continued, seemingly hinting at ongoing negotiations, “and fire this clinical idiot who values Americans’ bank secrecy at $50,000.”

While the nefarious organization’s claim was a bold one, not everyone was convinced the group had pulled off a breach of the highly secure Federal Reserve.

Is the Federal Reserve at risk?

One fact that could hint the entire hack was a bluff was that LockBit was severely hobbled when an international law enforcement effort dubbed Operation Cronos tightened the noose around the group.

According to Infosecurity Magazine, the operation saw the successful seizure of 34 LockBit servers, the closure of 14,000 “rogue” accounts and a chilling freeze of the group’s 200 cryptocurrency accounts.

A Department of Justice news release on the group’s takedown noted the indictment of Russian members of the group. A total of five people were charged in the hacking schemes in February.

A few of LockBit’s assets apparently fell through the cracks in this operation, hinting that the group could still be capable of harm.

But does this hacking organization have enough fight in it to take on the Federal Reserve?

AT&T Admits Its Network Was Breached by Massive Hack Impacting 'Nearly All' Customers

“Post-Operation Cronos, LockBit appears to be in a state of desperation, attempting to regain its credibility and recruit affiliates by showcasing high-profile attacks,” Ferhat Dikbiyik, chief research and intelligence officer for the risk management firm Black Kite, told SiliconAngle.

“It’s unusual for ransomware groups to successfully breach such significant institutions without swift retaliation or acknowledgment,” Dikbiyik said. “The size of the alleged breach and the dramatic narrative could very well be part of a broader strategy to instill fear and re-establish dominance in the cybercrime ecosystem.”

LockBit had not offered any evidence for its extraordinary claim.

As the deadline rapidly approached, the group’s credibility as a powerful and malicious cyberspace actor was set to be tested.

A Note from Our Deputy Managing Editor:


“We don’t even know if an election will be held in 2024.” Those 12 words have been stuck in my head since I first read them. 


Former Lt. Gen. Michael Flynn recently made that comment to Floyd Brown, founder of The Western Journal. 


And if the leftists and the elites get their way, that’s exactly what will happen — no real election, no real choice for the Electoral College, and no real say for the American people. 


The Western Journal is fighting to keep that from happening, but we can’t do it alone.


We work tirelessly to expose the lying leftist media and the corrupt America-hating elites.


But Big Tech’s stranglehold is now so tight that without help from you, we will not be able to continue the fight. 


The 2024 election is literally the most important election for every living American. We have to unite and fight for our country, otherwise we will lose it. And if we lose the America we love in 2024, we’ll lose it for good. Can we count on you to help? 


With you we will be able to field journalists, do more investigative work, expose more corruption, and get desperately needed truth to millions of Americans. 


We can do this only with your help. Please don’t wait one minute. Donate right now.


Thank you for reading,

Josh Manning

Deputy Managing Editor


P.S. Please stand with us today.

Truth and Accuracy

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

, , , , , , ,
Jared has written more than 200 articles and assigned hundreds more since he joined The Western Journal in February 2017. He was an infantryman in the Arkansas and Georgia National Guard and is a husband, dad and aspiring farmer.
Jared has written more than 200 articles and assigned hundreds more since he joined The Western Journal in February 2017. He is a husband, dad, and aspiring farmer. He was an infantryman in the Arkansas and Georgia National Guard. If he's not with his wife and son, then he's either shooting guns or working on his motorcycle.
Languages Spoken
Topics of Expertise
Military, firearms, history