Yet another financial institution, Malta’s Bank of Valletta, has fallen victim to a cyber attack, rendering many clients, both individuals, and businesses, unable to access their funds. A week after the attack, the issue reportedly persists, highlighting the need for decentralized and stable alternatives.
Bank of Valletta Through €13M Cyber Attack
On February 13th, Times of Malta reported that the Bank of Valletta, the oldest established financial services provider and the country and one of its largest, shut down all operations following a cybersecurity breach.
Hackers managed to break into the bank’s system and moved as much as 13 million euros into foreign accounts.
All of the bank’s functions, including ATMs, branches, mobile banking and even its email services were suspended, while its website went…