Buhtrap, as the gang has been called by Group-IB, used spear phishing emails to send corrupted Word documents to financial institutions. The documents downloaded malware which enabled the hackers to proceed fraudulent transfer orders so that the bank would unknowingly send money to other accounts.
The cyber gangs activities in question were said to have been first seen in 2014, as they first set their sights on Russian bank customers until August 2015. During this time, it was observed that they started targeting financial institutions.
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