The Bashe hacking group, a ransomware entity with a growing reputation for targeting critical industries, has claimed responsibility for breaching the Federal Bank in India.
The group alleges that it has exfiltrated a database containing sensitive customer information and has issued a ransom deadline of December 24, 2024.
Details of the Alleged Breach
According to a post from HackManac, the group claims to have accessed and stolen a database with 637,895 entries.

These records allegedly include sensitive customer information, although the exact nature of the data—whether financial details or personal identification—has not been disclosed.
The group has demanded an undisclosed ransom amount, threatening to release the stolen data if their demands are not met by the stipulated deadline.
Federal Bank has yet to issue an official statement confirming or denying the breach.
Cybersecurity experts are closely monitoring the situation as it unfolds, given the potential implications for customers and the broader financial sector in India.
Who is Bashe?
Bashe is a relatively new but highly active ransomware group that emerged in 2024.
Initially operating under the name APT73 or Eraleig, Bashe is believed to have spun off from the infamous LockBit ransomware gang.
The group employs sophisticated tactics, including leveraging Tor-based Data Leak Sites (DLS) for extortion and hosting their infrastructure on networks previously used by other malicious actors.
Bashe primarily targets high-value sectors such as financial services, technology, healthcare, and logistics.
Their global operations have impacted organizations in countries like India, the United States, and Australia.
The Federal Bank breach appears consistent with Bashe’s strategy of targeting entities holding sensitive data to maximize leverage during ransom negotiations.
Implications and Response
If confirmed, this breach could have significant ramifications for Federal Bank customers and Indian financial institutions at large.
Data breaches of this magnitude often lead to identity theft risks and undermine public trust in banking systems.
Cybersecurity experts are urging organizations to bolster their defenses by implementing robust encryption protocols, regular vulnerability assessments, and employee training on phishing threats.
Meanwhile, law enforcement agencies are likely to intensify efforts to track Bashe’s activities and dismantle its operations.
The incident also highlights the increasing sophistication of ransomware groups like Bashe and their growing focus on financial institutions in developing nations.
As ransom deadlines loom closer, all eyes are on the Federal Bank’s response to this alarming claim.
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