LockBit, a notorious ransomware group, hacked Motilal Oswal, an Indian brokerage business. The event is under investigation by Indian authorities.
Eltrys reported that LockBit added Motilal Oswal to its dark web leak site on Tuesday. Cybercriminals utilize leak sites to demand ransom and threaten to disclose stolen material if they don’t pay.
LockBit says it accessed “confidential company data.”
In hundreds of Indian towns, Motilal Oswal advises six million customers and has $53 billion in assets.
It is uncertain whether the brokerage company is suffering an operational interruption. No Motilal Oswal spokesperson responded to repeated emails asking for comment but did not contradict an occurrence.
The Indian Computer Emergency Response Team, or CERT-In, informed Eltrys via email on Thursday that it was “already in the process of taking appropriate action.”
Motilal Oswal, founded in 1987, provides asset and wealth management, equities and commodities trading, investment banking, institutional broking, and mutual fund distribution. Motilal Oswal Alternatives, a private equity affiliate of the banking conglomerate, has supported Dixon, VVDN Technologies, and KreditBee.
LockBit has been a popular ransomware strain since 2022. The Russia-linked ransomware group targeted TSMC, Accenture, and Foxconn. Indian pharmaceutical business Granules India and state-owned National Aerospace Laboratories were hacked by LockBit last year.
LockBit alleges Motilal Oswal hack.
