#FactCheck- Viral video of fighter jet striking dam falsely linked to alleged Israeli attack on Iran; actually AI-generated content

Overview:

The National Payments Corporation of India (NPCI) officially revealed on the 31st of July 2024 that its client C-Edge Technologies had been subject to a ransomware attack. These circumstances have caused C-Edge to be separated from retail payment systems to  eliminate more threats to the national payment systems. More than 200 cooperative and regional rural banks have been affected leading to disruptions in normal services including ATM withdrawals and UPI transactions.

About C-Edge Technologies:

C-Edge Technologies was founded in the year 2010 especially to meet the specific requirements of the Indian banking and other allied sectors accentuating more on the cooperative and the regional rural banks. The company offers a range of services such as Core Banking Solutions by functioning as the center of a bank where customers’ records are managed and accounting of transactions takes place, Payment Solutions through the implementation of payment gateways and mobile banking facilities, cybersecurity through threat detection and incident response to protect banking organizations, data analytics and AI through the analytics of big banking data to reduce risks and detect frauds.

Details of Ransomware attack:

Reports say, this ransomware attack has been attributed by the RansomEXX group which primarily targeted Brontoo Technology Solutions, a key collaborator with  C-Edge, through a misconfigured Jenkins server, which allowed unauthorized access to the systems.

The RansomExx group also known as Defray777 or Ransom X utilized a sophisticated variant known as RansomEXX v2.0 to execute the attack. This group often targets large organizations and demands substantial ransoms.  RansomEXX uses various malware tools such as IcedID, Vatet Loader, and PyXie RAT. It typically infiltrates systems through phishing emails, exploiting vulnerabilities in applications and services, including Remote Desktop Protocol (RDP).  The ransomware encrypts files using the Advanced Encryption Standard (AES), with the encryption key further secured using RSA encryption. This dual-layer encryption complicates recovery efforts for victims. RansomEXX operates on a ransomware-as-a-service model, allowing affiliates to conduct attacks using its infrastructure. Earlier in 2021,  it attacked StarHub and Gigabyte’s servers for ransome.

Impact due to the attack:

The immediate consequences of the ransomware attack include:

• Service Disruption: This has negative implications to consumers especially the citizens who use the banks to do their day to day banking activities such as withdrawals and online transactions. Among the complaints some of them relate to cases where the sender’s account has been debited without the corresponding credit to the receiver account.

• Isolation Measures: Likely, NPCI is already following the right measures as it had disconnected C-Edge from its networks to contain the proliferation of the ransomware. This decision was made as a precautionary measure so that all functional aspects in a larger financial system are safeguarded.

Operations resumed:

The National Payments Corporation of India (NPCI) said it has restored connectivity with C-Edge Technologies Ltd after the latter’s network connection was severed by NPCI over security concerns that were evaluated by an external forensic auditing firm. The audit affirmed that all affected systems were contained in order to avoid the occurrence of ransomware attack contagion. All the affected systems were localized in C-Edge’s data center and no repercussion was evidenced regarding the infrastructure of the cooperative banks or the regional rural banks that are involved in the business. Both NPCI and C-Edge Technologies have resumed normalcy so that the banking and financial services being offered by these banks remain safe and secure.

Major Implications for Banking Sector:

The attack on C-Edge Technologies raises several critical concerns for the Indian banking sector:

• Cybersecurity Vulnerabilities: It also shows the weak linkages which are present within the technology system that help smaller sized banks. Nevertheless, the service has been offered by C-Edge regarding their cybersecurity solution, this attack evidence that the securities required should improve in all types of banks and banking applications.

• Financial Inclusion Risks: Co operative and regional rural banks also have its importance in the financial inclusion especially in rural and semi urban areas. Gradually, interruptions to their services pose a risk to signal diminished improvement in financial literacy for the excluded groups contrary to the common year advancement.

• Regulatory Scrutiny: After this event, agencies such as the Reserve Bank of India (RBI) may enhance the examination of the banking sector’s cybersecurity mechanisms. Some of the directives may even require institutions to adhere to higher compliance measures regarding the defense against cyber threats.

Way Forward: Mitigation  

• Strengthening Cybersecurity: It is important to enhance the cyber security to eliminate this kind of attacks in the future. This may include using  better threat detection systems, penetration testing to find the vulnerabilities, system hardening, and network monitoring  from time to time.

• Transition to Cloud-Based Solutions: The application of adaptations in cloud solutions can contribute to the enhancement in operative efficiency as well as optimization in the utilization of resources. The security features of cloud should be implemented for  safety  and protection against cyber threats for SMEs in the banking sector.

• Leveraging AI and Data Analytics: Development of the AI-based solutions for fraud and risk control means that bank organizations get the chance to address threats and to regain clients’ trust.

Conclusion:

This ransomware attack in C-Edge Technologies in the banking sector provides a warning for all the infrastructures. Initial cleanup methodologies and quarantining are effective. The continuous monitoring of cyber security features in the infrastructure and awareness between employees helps to avoid these kinds of attacks.  Building up cyber security areas will also effectively safeguard the institution against other cyber risks in the future and fortify the confidence and reliability of the financial system, especially the regional rural banks.

Reference:

• https://www.businesstoday.in/technology/news/story/c-edge-technologies-a-deep-dive-into-the-indian-fintech-powerhouse-hit-by-major-cyberattack-439657-2024-08-01
• https://www.thehindu.com/sci-tech/technology/customers-at-several-small-sized-banks-affected-as-tech-provider-c-edge-suffers-ransomware-attack/article68470198.ece
• https://www.cnbctv18.com/technology/ransomware-attack-disrupts-over-200-co-operative-banks-regional-rural-banks-19452521.htm
• https://timesofindia.indiatimes.com/city/ahmedabad/ransomware-breach-at-c-edge-impacts-transactions-for-cooperative-banks/articleshow/112180914.cms
• https://www.emsisoft.com/en/blog/41027/ransomware-profile-ransomexx/

‍

Introduction

Misinformation spreads differently with respect to different host environments, making localised cultural narratives and practices major factors in how an individual deals with it when presented in a certain place and to a certain group. In the digital age, with time-sensitive data, an overload of information creates a lot of noise which makes it harder to make informed decisions. There are also cases where customary beliefs, biases, and cultural narratives are presented in ways that are untrue. These instances often include misinformation related to health and superstitions, historical distortions, and natural disasters and myths. Such narratives, when shared on social media, can lead to widespread misconceptions and even harmful behaviours. For example, it may also include misinformation that goes against scientific consensus or misinformation that contradicts simple, objectively true facts. In such ambiguous situations, there is a higher probability of people falling back on patterns in determining what information is right or wrong. Here, cultural narratives and cognitive biases come into play.

Misinformation and Cultural Narratives

Cultural narratives include deep-seated cultural beliefs, folklore, and national myths. These narratives can also be used to manipulate public opinion as political and social groups often leverage them to proceed with their agenda. Lack of digital literacy and increasing information online along with social media platforms and their focus on generating algorithms for engagement aids this process. The consequences can even prove to be fatal.

During COVID-19, false claims targeted certain groups as being virus spreaders fueled stigmatisation and eroded trust. Similarly, vaccine misinformation, rooted in cultural fears, spurred hesitancy and outbreaks. Beyond health, manipulated narratives about parts of history are spread depending on the sentiments of the people. These instances exploit emotional and cultural sensitivities, emphasizing the urgent need for media literacy and awareness to counter their harmful effects.

CyberPeace Recommendations

As cultural narratives may lead to knowingly or unknowingly spreading misinformation on social media platforms, netizens must consider preventive measures that can help them build resilience against any biased misinformation they may encounter. The social media platforms must also develop strategies to counter such types of misinformation.

• Digital and Information Literacy: Netizens must encourage developing digital and information literacy in a time of information overload on social media platforms. 
• The Role Of Media: The media outlets can play an active role, by strictly providing fact-based information and not feeding into narratives to garner eyeballs. Social media platforms also need to be careful while creating algorithms focused on consistent engagement.
• Community Fact-Checking: As localised information prevails in such cases, owing to the time-sensitive nature, immediate debunking of precarious information by authorities at the ground level is encouraged.
• Scientifically Correct Information: Starting early and addressing myths and biases through factual and scientifically correct information is also encouraged. 

Conclusion

Cultural narratives are an ingrained part of society, and they might affect how misinformation spreads and what we end up believing. Acknowledging this process and taking counter measures will allow us to move further and take steps for intervention regarding tackling the spread of misinformation specifically aided by cultural narratives. Efforts to raise awareness and educate the public to seek sound information, practice verification checks, and visit official channels are of the utmost importance.

References

• https://www.icf.com/insights/cybersecurity/developing-effective-responses-to-fake-new
• https://www.dw.com/en/india-fake-news-problem-fueled-by-digital-illiteracy/a-56746776
• https://www.apa.org/topics/journalism-facts/how-why-misinformation-spreads

‍

Introduction

Devices and interconnectivity are the pipelines which drive the data into cyberspace, and in turn, the users consume this data to perform different tasks in the digital age. The security of devices and networks is essential as they are the first defenders of cyberspace. Bad actors often target systems and networks with malware and ransomware, these attacks are differently motivated, but all wreak havoc upon the system and can impact individuals and organisations alike. Mobile users worldwide prefer iOS or Android, but both operating systems are vulnerable to cyberattacks these days. Some of these attacks go undetected for a long time.

Op Triangulation

As reported by Kaspersky, While monitoring the network traffic of their own corporate Wi-Fi network dedicated to mobile devices using the Kaspersky Unified Monitoring and Analysis Platform (KUMA), Kaspersky noticed suspicious activity that originated from several iOS-based phones. Since it is impossible to inspect modern iOS devices from the inside, they created offline backups of the devices in question, inspected them using the Mobile Verification Toolkit’s mvt-ios and discovered traces of compromise. This is known as Operation Triangulation and has been in action since 2019 and got detected in 2023.

The Malware

A portion of the filesystem, including some of the user data and service databases, is included in mobile device backups. The files, directories, and database entries’ timestamps make it possible to reconstruct the events that happened to the device roughly. The “timeline.csv” file created by the mvt-ios software contains a sorted timeline of events that is comparable to the super-timeline utilised by traditional digital forensic tools. Pinpointing particular artefacts that show the compromise using this timeframe. This made it possible to advance the research and reassemble the broad infection sequence:

Through the iMessage service, a message with an attachment containing an exploit is delivered to the target iOS device.

The message initiates a vulnerability that results in code execution without any user input.

The exploit’s code downloads multiple additional stages, including additional exploits for privilege escalation, from the C&C server.

After successful exploitation, a fully functional APT platform is downloaded as the final payload from the C&C server.

The first message and the attachment’s exploit are removed

The lack of persistence support in the harmful toolset is most likely a result of OS restrictions. Multiple devices’ timeframes suggest that after rebooting, they might get infected again. The earliest signs of infection that we found date to 2019. The most recent version of the devices that have been successfully attacked as of the time of writing in June 2023 is iOS 15.7.

The final payload analysis is still ongoing. The programme executes with root rights, implements a set of commands for gathering user and system data, and can run any code downloaded as plugin modules from the C&C server.

Malicious Domains

Using the forensic artefacts, it was possible to identify the domain name set used by the exploits and further malicious stages. They can be used to check the DNS logs for historical information and to identify the devices currently running the malware:

addatamarket[.]net

backuprabbit[.]com

businessvideonews[.]com

cloudsponcer[.]com

datamarketplace[.]net

mobilegamerstats[.]com

snoweeanalytics[.]com

tagclick-cdn[.]com

topographyupdates[.]com

unlimitedteacup[.]com

virtuallaughing[.]com

web-trackers[.]com

growthtransport[.]com

anstv[.]netAns7tv[.]net

Safeguards for iOS users

Despite its world-class safety and privacy architecture, iOS is vulnerable to a few attacks; the following steps can be undertaken to safeguard iOS users –

Keeping Device updated

Security patches

Disabling iMessage would prevent Zero clicks exploits or the Triangulation attacks

Paying zero attention to unwanted, unsolicited messages

The user should make sure that any application they are downloading or installing; it should be from a trusted source ( This Zero click attack does not occur by any other means, It exploits / it targets software vulnerabilities in operating systems networks and applications)

Being cautious with the messaging app and emails

Implement device restrictions (management features like parental control and restrictions over using necessary applications)

Conclusion

Operation Triangulation is one of the recent operations combating cyber attacks, but such operations are launched nearly daily. This is also due to a rapid rise in internet and technology penetration across the world. Cyberattacks have taken a new face as they have evolved with the new and emerging technology. The influence of the Darknet has allowed many hackers to remain on the black hat side due to easy accessibility to illegal tools and material over the dark net, which facilitates such crimes.