SRP Federal Credit Union Suffers Data Breach Affecting 240,000 Individuals

A major cybersecurity incident has hit South Carolina-based SRP Federal Credit Union, exposing sensitive personal information of over 240,000 individuals. The breach, which occurred between September 5 and November 4, enabled an attacker to infiltrate systems and potentially extract critical data, sparking concerns over the safety of affected individuals’ information.

What Data Was Compromised?

The breach exposed a range of personal details, including:

• Full names
• Birth dates
• Driver’s license numbers
• Social Security numbers
• Financial account information

Although SRP Federal Credit Union asserts there is no evidence of immediate misuse, the breadth of exposed data places individuals at risk of identity theft and financial fraud.

The Culprit Behind the Attack

The emerging ransomware group Nitrogen has taken responsibility for the breach, claiming on its leak site that it has exfiltrated 650 gigabytes of sensitive data from the credit union. Nitrogen, a relatively new player in the ransomware scene, has been active since late September. In a short span, the group has launched attacks on multiple organizations across the U.S. and Canada, often leaking stolen data as a form of coercion.

Implications for Affected Individuals

Even without immediate signs of data misuse, breaches of this nature leave victims vulnerable to a variety of cyber threats, including identity fraud and targeted phishing scams. The stolen data could potentially surface on dark web marketplaces or be exploited by cybercriminals in elaborate fraud schemes.

What SRP Federal Credit Union is Doing

The financial institution has yet to share detailed information about its remediation efforts. However, it is likely collaborating with cybersecurity professionals to contain the breach and prevent future incidents. Affected customers can expect to receive guidance on monitoring their accounts and safeguarding their identities.

How to Protect Yourself

If you are among the individuals impacted by the breach, consider the following steps to mitigate risks:

1. Enable Credit Monitoring: Sign up for a credit monitoring service to quickly detect any suspicious activity.
2. Place Fraud Alerts or Freezes: Contact credit bureaus to add an extra layer of security to your credit files.
3. Be Alert for Scams: Exercise caution with emails, texts, or calls asking for personal or financial information.
4. Review Financial Statements: Regularly check bank accounts and credit card statements for unauthorized transactions.

Rising Threat of Emerging Ransomware Groups

Nitrogen’s rapid rise highlights the increasing sophistication of ransomware operators. Financial institutions, given the highly valuable data they possess, remain prime targets for cybercriminals. This incident underscores the critical importance of robust cybersecurity practices, including endpoint protection, timely patching, and advanced threat monitoring.