Cyberattacks on Russian banks intensified in late July 2024
A look back at reports of escalating Ukrainian cyber operations against Russia's banking sector and other services.
What did the escalation of Ukrainian cyberattacks on Russian financial services look like by 30 July 2024? Reports published in the days before that date, on 27 July 2024, described hackers from Ukraine's Ministry of Defence stepping up what were called "massive" attacks on Russia's largest banks, with cash and credit transactions reported as blocked.
The reports said the attacks were not limited to banking. Russian public transport systems, internet and mobile providers and social networks were also named as targets.
The wider campaign
The activity formed part of a broader series of operations in 2024. Cyber-specialists working within the Main Directorate of Intelligence of the Ministry of Defence (HUR) and the Security Service of Ukraine (SBU) initiated several attacks on Russian technology and infrastructure. Besides banks and internet providers, targets included regional and municipal administration web resources, airports, state institutions and private companies.
The operations were conducted, according to later accounts, to impede Russian military operations and uncover classified documents that the Armed Forces of Ukraine could take into account during the Russian invasion. They also aimed to destabilise Russian institutions. The attacks had begun to grow in scope in June and July 2024, which places the late-July reports within a period of intensification.
