Incident analysis
SBC Global, Bitfinex, Coinmama, and Rutgers University Part 2 was listed by Flocker ransomware, a group with 59 victims recorded in this database. The listing appeared on the group's leak site on May 6, 2024.
Sector context. Educational institutions often have under-resourced IT security teams and hold large amounts of student and faculty personal data, making them attractive targets for ransomware groups.
Flocker typically follows a double extortion model: data is exfiltrated from the victim's systems before files are encrypted, so the victim faces two demands at once — pay to restore access, and pay to keep stolen data unpublished. The leak site, where this listing appeared, is the lever for the second demand.