2023 Expert insights News-EN Newsroom

Update on Fawry



We received a statement from Fawry, a fintech company headquartered in Egypt, through their public relations agency.

Earlier, we reported that the ransomware gang Lockbit 3.0 claimed the responsibility for the attack to Fawry, as stated in their Data Leak Site on Dark Web.

However, Fawry denies the attack with the following statement:

<<Fawry, the leading company in electronic payment solutions and digital financial services in Egypt, confirms the efficiency and security of its electronic defenses across all its platforms and all the services it provides electronically.

There is no validity to any rumors circulating on social media pages claiming that Fawry has been subjected to attacks or information system breaches.

The company immediately conducted an investigation into its servers and live broadcast. Based on the tests conducted by the company, it has been found that the servers serving customers and banks have not been subjected to any breaches.

The company also confirms that no financial or banking data of customers have been leaked. Furthermore, the company asserts that it adheres to the highest standards of cybersecurity in accordance with the requirements of global regulatory authorities.>>

Disclaimer Statement from Fawry

For more information or corrections, we welcome any feedback via email or our social channels.

Hackmanac Team


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2023 Expert insights News-EN Newsroom




LostTrust is a recently discovered ransomware group with some interesting characteristics.

They started their operations probably in late 2022, but became known only on September 2023 when they started to post victims on their newly created DLS (Data Leak Site).

Here is our analysis of the group main modus operandi.

The cybercrime group

LostTrust describe itself as a “a group of young people who identify themselves as specialists in the field of network security with at least 15 years of experience.”

On their DLS they clarify that they have nothing to do with political groups or intelligence agencies and that the data present is not the only one in their possession.

LostTrust DLS

As a rule, they report every incident to as much press as possible in the affected region, while data not intended for sale is passed on to designated forums.

LostTrust ransom note

LostTrust cyber attacks

In Hackmanac we analyzed and classified a total of 53 cyber attacks from the group.

Based on what the gang reported in their DLS, 44 of these attacks occurred in the period January-June 2023 and 9 at the end of 2022.

LostTrust group cyber attacks per month in 2023

The average in 2013 is 7.3 cyber attacks per month, but in March we recorded a considerable spike of 28 events.

However, it is important to underline that precise attribution of when the attacks occurred is not easy as the group does not use precise dates but only relative dates.

Main victims

Manufacturing and Professional / Scientific / Technical sectors are the group’s main victims (each accounting for 19% of the total number of attacks).

LostTrust most targeted victim sectors

This is followed by Construction (11%), Education (9%), Other Services, ICT, Gov / Mil / LE (each 5%) and other sectors impacted to a lesser extent.

Most targeted countries

USA (71% of total attacks) and Italy (7%) are the most targeted countries by LostTrust group.

LostTrust most targeted countries

Argentina and Canada (4% each) are other countries affected by the group, followed by other states impacted to a lesser extent.

Probably a rebrand

LostTrust group is believed to be a rebrand of Metaencryptor gang.

MetaEncryptor is a ransomware operation that started their activities in August 2022 and didn’t post anything after July 2023, for a total amount of 13 victims.

In September a new DLS was launched for Lost Trust which, as we reported to Bleeping Computer, uses the same template and bio as MetaEncryptor.

LostTrust VS Metaencryptor DLS

SentinelOne supports this thesis too, also showing similarities in the ransom note construction and in the malware samples of two other gangs, Mindware and SFile, indicating that LostTrust could probably be an evolution of these two groups.

Furthermore, we detected that Lost Trust attacked 7 targets previously affected by 4 other ransomware groups: Medusa, Royal, LockBit 3.0, and NoEscape.

While waiting for further developments, we recommend caution as always.

Stay cyber safe!

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At Hackmanac we have been classifying and analyzing cyber attacks for over 11 years, and historically, the threat of ransomware has always been used for Cybercrime purposes to provide economic benefits to attackers.

But, for the first time we came across a ransomware being used for Information Warfare purposes.

Soldiers of Solomon group

Soldiers of Solomon is a group long engaged in Information Warfare operations on behalf of Palestine.

Soldiers of Solomon group presentation

The recent cyber attack

The group recently announced that it has exfiltrated and encrypted with ransomware 25 TB of data from the Nevatim military zone in Israel.

Soldiers of Solomon recent cyber attack post

In its assertions, the group claims to have gained complete control of more than 50 servers, including security cameras and the area’s smart city management system. 

Soldiers of Solomon, security cameras samples

Nevatim Air Base also hacked

They also claim to have acquired detailed information about personnel and their respective families at Nevatim Air Base.

In support of their statements, they provided screenshots, video recordings and other relevant images of the base.

Soldiers of Solomon, proof of concept

More details on an underground forum

Details of the attack were disclosed on an underground forum.
The forum post mentioned the use of Crucio, a custom ransomware, which raises suspicion that the group used RaaS (Ransomware as a Service).

Soldiers of Solomon, leakage on an underground forum

Although this is the first attack of its kind, we suspect that it will not be the last.

Stay Cyber Safe!

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