A major cyberattack has allegedly targeted ICICI Bank, one of India’s leading financial institutions, with the notorious ransomware group Bashe claiming responsibility. According to information obtained from the dark web, Bashe has set a ransom deadline of January 24, 2025, threatening to release sensitive customer data unless their demands are met. While ICICI Bank has not publicly acknowledged the breach, Bashe’s actions have sparked significant concern in the cybersecurity community.
Bashe, which emerged in April 2024, is a highly organized and sophisticated group known for targeting high-profile industries such as banking, healthcare, and technology. The group operates with the support of Tor-based infrastructure and is allegedly linked to LockBit, a notorious cybercrime organization. Their approach involves demanding ransom payments in exchange for preventing the public release of stolen data, which could severely damage the affected organizations.
This incident follows a troubling trend of increasing cyberattacks on Indian businesses, particularly financial institutions. In December 2024, Bashe was also linked to the breach of Federal Bank. Experts warn that these attacks highlight the vulnerabilities in India’s digital infrastructure, urging businesses to invest in robust cybersecurity measures.
ICICI Bank, a critical component of India’s banking infrastructure, has millions of customers whose data is at risk. If the ransom demand is not met, the exposure of this data could lead to severe consequences, both financially and reputationally. With cybersecurity threats on the rise, this breach serves as a reminder of the growing importance of data protection and swift responses to emerging cyber risks.