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Ransomware Victim Financial Services

Thompson Davis & Co

Ransomware attack by Bianlian · Disclosed August 14, 2024 · 🇺🇸 United States

thompsondavis.com

Date Disclosed
Aug 14, 2024
2024
Threat Group
Bianlian
201 total victims
Country
🇺🇸 United States
Industry
Financial Services

ThreatAI Analysis

Compiled from this incident record and the threat intelligence profile for Bianlian. Figures and technique mappings are quoted from the source data, not inferred.

About the Bianlian group

BianLian ransomware operations began in late 2021. The group practices multi-pronged extortion, demanding payment for a decryptor, as well as the non-release of stolen data. The ransomware group hosts a public, TOR-based, blog to post victim identities and stolen data. Somewhat unique to BianLian at the time of their launch was their inclusion of an I2P mirror for their blog. Bianlian has listed 552 victims since July 2022.

How Bianlian is documented to operate

Command and Scripting Interpreter T1059 Execution

Adversaries may abuse command and script interpreters to execute commands, scripts, or binaries. These interfaces and languages provide ways of interacting with computer systems and are a common feature across many different platforms. Most systems come with some built-in command-line interface and scripting capabilities, for example, macOS and Linux distributions include some flavor of Unix Shell while Windows installations include the Windows Command Shell and PowerShell. There are also cross-platform interpreters such as Python, as well as those commonly associated with client applications such as JavaScript and Visual Basic.

Mitigations: Restrict Web-Based Content, Limit Software Installation, Execution Prevention, Code Signing, Behavior Prevention on Endpoint, Privileged Account Management

MITRE ATT&CK reference →
User Execution T1204 Execution

An adversary may rely upon specific actions by a user in order to gain execution. Users may be subjected to social engineering to get them to execute malicious code by, for example, opening a malicious document file or link. These user actions will typically be observed as follow-on behavior from forms of Phishing. While User Execution frequently occurs shortly after Initial Access it may occur at other phases of an intrusion, such as when an adversary places a file in a shared directory or on a user's desktop hoping that a user will click on it. This activity may also be seen shortly after Internal Spearphishing.

Mitigations: Network Intrusion Prevention, Restrict Web-Based Content, Limit Software Installation, User Training, Execution Prevention, Behavior Prevention on Endpoint

MITRE ATT&CK reference →
Software Packing T1027.002 Stealth

Adversaries may perform software packing or virtual machine software protection to conceal their code. Software packing is a method of compressing or encrypting an executable. Packing an executable changes the file signature in an attempt to avoid signature-based detection. Most decompression techniques decompress the executable code in memory. Virtual machine software protection translates an executable's original code into a special format that only a special virtual machine can run. A virtual machine is then called to run this code. Utilities used to perform software packing are called packers. Example packers are MPRESS and UPX.

Mitigations: Antivirus/Antimalware

MITRE ATT&CK reference →
Masquerading T1036 Stealth

Adversaries may attempt to manipulate features of their artifacts to make them appear legitimate or benign to users and/or security tools. Masquerading occurs when the name or location of an object, legitimate or malicious, is manipulated or abused for the sake of evading defenses and observation. This may include manipulating file metadata, tricking users into misidentifying the file type, and giving legitimate task or service names. Renaming abusable system utilities to evade security monitoring is also a form of Masquerading.

Mitigations: User Training, Execution Prevention, Code Signing, Behavior Prevention on Endpoint, User Account Management, Restrict File and Directory Permissions

MITRE ATT&CK reference →
Virtualization/Sandbox Evasion T1497 Stealth Discovery

Adversaries may employ various means to detect and avoid virtualization and analysis environments. This may include changing behaviors based on the results of checks for the presence of artifacts indicative of a virtual machine environment (VME) or sandbox. If the adversary detects a VME, they may alter their malware to disengage from the victim or conceal the core functions of the implant. They may also search for VME artifacts before dropping secondary or additional payloads. Adversaries may use the information learned from Virtualization/Sandbox Evasion during automated discovery to shape follow-on behaviors.

MITRE ATT&CK reference →
System Information Discovery T1082 Discovery

An adversary may attempt to get detailed information about the operating system and hardware, including version, patches, hotfixes, service packs, and architecture. Adversaries may use this information to shape follow-on behaviors, including whether or not the adversary fully infects the target and/or attempts specific actions. This behavior is distinct from Local Storage Discovery which is an adversary's discovery of local drive, disks and/or volumes. Tools such as Systeminfo can be used to gather detailed system information. If running with privileged access, a breakdown of system data can be gathered through the <codesystemsetup</code configuration tool on macOS.

MITRE ATT&CK reference →

MITRE ATT&CK techniques attributed to Bianlian across its recorded activity, not a finding about how Thompson Davis & Co was reached.

Incident Analysis

Thompson Davis & Co was targeted by Bianlian ransomware, one of the most active ransomware groups in our database with 201 confirmed victims globally. The attack was disclosed on August 14, 2024, when Thompson Davis & Co appeared on the group's dark web leak site.

Thompson Davis & Co is based in United States , operating in the Financial Services sector. United States ranks #1 globally for ransomware attacks, with 9,519 victims in our database.

Sector context: Financial sector organisations are targeted for their access to funds, sensitive financial data, and the reputational damage a public breach can cause. Regulatory requirements also increase recovery costs.

Bianlian typically employs a double extortion model: first exfiltrating sensitive data from the victim's systems, then deploying ransomware to encrypt files. Victims face two simultaneous threats — paying to restore access and paying to prevent publication of stolen data. The group's leak site publishes victim names and exfiltrated data as leverage.

Data source: This incident record is sourced from public ransomware group leak site disclosures aggregated via the ransomware.live API. Disclosure date reflects when the victim was published on the leak site, which may differ from the initial date of compromise. This platform does not publish or link to stolen data. Last data update: Sep 17, 2026 22:00 UTC.

Frequently Asked Questions

Was Thompson Davis & Co attacked by ransomware?

Yes. Thompson Davis & Co was listed as a victim of the Bianlian ransomware group on August 14, 2024. The organisation is based in United States and operates in the Financial Services sector. The disclosure appeared on the group's dark web leak site.

Which ransomware group attacked Thompson Davis & Co?

Thompson Davis & Co was attacked by Bianlian ransomware. Bianlian is one of the most active ransomware groups, having claimed 201 victims globally. The group typically employs a double-extortion model: encrypting the victim's files and threatening to publish stolen data.

When did the Thompson Davis & Co ransomware attack occur?

The ransomware attack on Thompson Davis & Co was disclosed on August 14, 2024. This date reflects when the victim was published on the threat group's leak site, which may differ from the actual date of initial compromise.

What data was stolen in the Thompson Davis & Co ransomware attack?

The specific data stolen from Thompson Davis & Co has not been independently verified by this platform. Ransomware groups typically exfiltrate data before encrypting systems and use the threat of publication to pressure victims. As a Financial Services organisation, Thompson Davis & Co likely held financial records, client data, and transaction histories.

How can organisations protect against Bianlian attacks?

To defend against Bianlian and similar threat actors, organisations should: maintain regular offline backups tested for restoration; implement network segmentation to limit lateral movement; deploy multi-factor authentication on all remote access; use endpoint detection and response (EDR) tools; conduct regular phishing and security awareness training; and monitor threat intelligence feeds for indicators of compromise (IOCs) associated with active groups.