Venezuela’s largest bank suffers 5-day outage after attempted hack BlockBlog


The Bank of Venezuela, one of the largest state-owned banks in the country, is currently experiencing an outage that has left its customers without services for five days. The bank issued a public relations statement saying it was the result of a “terrorist attack” on the national financial system, carried out in the form of massive hacking. More than 16 million customers still do not have banking services at the time of writing.

Bank of Venezuela hacked in “terrorist attack”

The Bank of Venezuela, one of the country’s largest financial institutions, serving more than 16 million customers, is facing an outage that has left its online platform without service for five days. Bank customers began to complain about the outage of these services on September 15, when some of them raised concerns on social media.

At that time, a bank employee told local media that the outage was the product of several adaptations made to the bank’s online platform to support Digital Bolivar’s redenomination plan. The bank Posted a public relations release via social media indicating that he was working to restore the service on September 16.

However, this did not happen. On September 17, the bank issued another declaration revealing that the institution had been hacked in order to perpetuate a “terrorist attack” on the national financial system. The statement also told users that their financial information was safe and that the bank was still working to render the services. No further details were offered.

16 million users affected; Return announced

The consequences of this left over 16 million users without banking services for a week. This means that many people could not make purchases of goods and services and they are still waiting to meet their daily expenses.

Some of these users complained about this and said that this outage was preventing them from purchasing food and medicine for their families. However, the Bank of Venezuela got out a statement that their services will be returned. The statement claims that the services will be available again on September 20 and that the institution has succeeded in preserving data integrity, which means that users will be able to access their accounts with the same information.

This is one of the longest outages a bank has faced in the country’s history and reinforces the importance of the existence of an alternative financial system like cryptocurrencies, which would help make facing this kind of event.

What do you think of the Bank of Venezuela’s 5-day service outage? Tell us in the comments section below.

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