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Cyber Threat
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Ransomware victim Financial Services

Tower Insurance

Listed by Coinbasecartel on · organisation based in New Zealand

tower.co.nz

Disclosed
Aug 22, 2026
Leak-site listing date
Threat group
Coinbasecartel
208 victims listed
Country
New Zealand
#46 most targeted
Sector
Financial Services

ThreatAI analysis

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

Coinbasecartel listed Tower Insurance on its dark web leak site on 22 August 2026; Tower Insurance is based in New Zealand and operates in the Financial Services sector.

About the Coinbasecartel group

CoinbaseCartel specializes in data acquisition through system access and strategic partnerships. It focus exclusively on data exfiltration—our operations never involve system encryption or operational disruption. Coinbasecartel has listed 206 victims since May 2023.

How Coinbasecartel is documented to operate

Replication Through Removable Media T1091 Lateral Movement Initial Access

Adversaries may move onto systems, possibly those on disconnected or air-gapped networks, by copying malware to removable media and taking advantage of Autorun features when the media is inserted into a system and executes. In the case of Lateral Movement, this may occur through modification of executable files stored on removable media or by copying malware and renaming it to look like a legitimate file to trick users into executing it on a separate system. In the case of Initial Access, this may occur through manual manipulation of the media, modification of systems used to initially format the media, or modification to the media's firmware itself.

Mitigations: Limit Hardware Installation, Behavior Prevention on Endpoint, Disable or Remove Feature or Program

MITRE ATT&CK reference
External Remote Services T1133 Persistence Initial Access

Adversaries may leverage external-facing remote services to initially access and/or persist within a network. Remote services such as VPNs, Citrix, and other access mechanisms allow users to connect to internal enterprise network resources from external locations. There are often remote service gateways that manage connections and credential authentication for these services. Services such as Windows Remote Management and VNC can also be used externally. Access to Valid Accounts to use the service is often a requirement, which could be obtained through credential pharming or by obtaining the credentials from users after compromising the enterprise network.

Mitigations: Limit Access to Resource Over Network, Restrict Web-Based Content, Network Segmentation, Multi-factor Authentication, Disable or Remove Feature or Program

MITRE ATT&CK reference

MITRE ATT&CK techniques attributed to Coinbasecartel across its recorded activity, not a finding about how Tower Insurance was reached.

Incident analysis

Tower Insurance was listed by Coinbasecartel ransomware, a group with 208 victims recorded in this database. The listing appeared on the group's leak site on August 22, 2026.

Tower Insurance is based in New Zealand and operates in the Financial Services sector. New Zealand ranks #46 worldwide for ransomware disclosures, with 51 victims in this 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.

Coinbasecartel 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.

Source. Public leak-site disclosures aggregated via the ransomware.live API. The disclosure date is when the listing was published, which can differ from the date of compromise. This site does not publish or link to stolen data. Last updated .

Frequently asked questions

Was Tower Insurance attacked by ransomware?

Yes. Tower Insurance was listed as a victim of the Coinbasecartel ransomware group on August 22, 2026. The organisation is based in New Zealand and operates in the Financial Services sector. The disclosure appeared on the group's dark web leak site.

Which ransomware group attacked Tower Insurance?

Tower Insurance was attacked by Coinbasecartel ransomware. Coinbasecartel is one of the most active ransomware groups, having claimed 208 victims globally. The group typically employs a double-extortion model: encrypting the victim's files and threatening to publish stolen data.

When did the Tower Insurance ransomware attack occur?

The ransomware attack on Tower Insurance was disclosed on August 22, 2026. 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 Tower Insurance ransomware attack?

The specific data stolen from Tower Insurance 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, Tower Insurance likely held financial records, client data, and transaction histories.

How can organisations protect against Coinbasecartel attacks?

To defend against Coinbasecartel 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.