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Ransomware Causes Credit Union Outage

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Ransomware Causes Credit Union Outage

  • Over 60 credit unions in the U.S. were impacted by a ransomware attack on a technology provider, leading to outages.
  • The National Credit Union Association has stated that the attack affected a unit of Trellance, a cloud computing provider.

Around 60 credit unions in the United States are struggling with outages following a ransomware attack on Trellance, an IT provider used by the credit unions. The National Credit Union Administration (NCUA), responsible for insuring deposits at these entities, stated that it was coordinating with the affected unions.

Credit unions have reported that a unit of Trellance, a cloud computing service provider, was hit by a ransomware attack, essentially blocking supply chains for the credit unions, including outages of online and mobile banking. Trellance is yet to confirm the scope of the incident. Security researchers have claimed that the attack was executed on an unpatched Cisco NetScaler device by leveraging the CitrixBleed vulnerability (CVE-2023-4966).

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According to the NCUA, the attack occurred via FedComp, a third-party vendor using Trellance software, which was identified as the source of the ransomware attack. Deposits at the credit unions were insured by the National Credit Union Share Insurance Fund up to $250,000, according to the NCUA.

This is the latest instance of many ransomware attacks witnessed nationwide, impacting critical infrastructure in recent months. So far, these attacks have affected payment systems, fuel pipelines, healthcare facilities, and schools and have attracted the attention of federal law enforcement agencies.

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