Security & Fraud

Liechtenstein Bank Blackmailed By Hackers

A Liechtenstein-based bank has been threatened by blackmailers demanding bitcoin as ransom. According to Reuters, an unknown blackmailer is demanding that Valartis Bank Liechtenstein pay a portion of their savings or else risk releasing account details to both the media and authorities.

The Chinese-owned bank is being told to pay 10 percent of the account balances by Dec. 7, specifically in bitcoin, to maintain anonymity.

As of publishing, no money losses have been identified, according to Reuters. Bank reps said the core system of the bank had not been compromised: “The attacker did not obtain details of the account statement or asset data,” Chief Financial Officer Fong Chi Wah said in a released statement. “Possible affected customers have already been informed by the bank.”

Hackers found their way into the bank’s system and grabbed customer information, many of which are German.

Many of the customers that Valartis Bank Liechtenstein services are politicians, actors and other high-profile names. Some experts say these customers are deliberately why this bank is being targeted. The information that could be revealed may include evidence of tax evasion.

Earlier this year, a large part of the bank was sold to Citychamp Watch & Jewellery Group, which is based in Hong Kong.

To date, all related parties — including Valartis Bank Liechtenstein and Citychamp – have not returned media’s phone calls and emails.

The bank is cooperating with the appropriate authorities.

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