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European Investment Bank Hit by Cyberattack

What happened
  • The European Investment Bank (EIB) recently fell victim to a sophisticated cyber attack orchestrated by the Russian hacking group known as Killnet.
  • The attack, which had been meticulously planned since May, aimed to cripple the Western financial system by the end of the month. Speculation suggests that the attack might be in retaliation for the support provided by countries like the UK and the USA to Ukraine in its conflicts with Russia.
Who was affected
  • The EIB’s network system collapsed as a result of the attack, leading to a significant disruption to its balance sheet, with over €550 billion impacted.
  • The attack has far-reaching consequences for the EIB and its financial operations.
Hackers’ objectives
  • Killnet, notorious for launching distributed denial of service (DDoS) attacks, overwhelmed the EIB’s website hosting server with a flood of web traffic.
  • The hackers intended to render the EIB’s website and network infrastructure unable to process legitimate requests, causing chaos in the Western financial system.
Victims’ response
  • The EIB promptly acknowledged the cyber attack and took to Twitter to inform the public about the incident.
  • They assured the public that they were actively responding to the situation. While the EIB’s website remained completely down, the website of the European Investment Fund (EIF), a part of the EIB, was operational but with a different appearance.

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