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Cyberattack hits Monobank, Ukraine's largest direct bank

by The Kyiv Independent news desk August 17, 2024 9:32 PM 1 min read

Oleh Horokhovskyi, CEO of mobile-only banking service Monobank, at the company's office in Kyiv on July 4, 2023. (Pete Kiehart/Bloomberg via Getty Images)

This audio is created with AI assistance

Monobank, Ukraine's largest direct bank, is witnessing DDoS attacks two days straight, the bank's co-owner said on Aug. 17.

"Yesterday, it subsided at 10:30 p.m., and today, it started again at 3:15 a.m. We are approaching 3 billion service requests in two days," said Oleh Horokhovskyi.

He added that the best way to help is to donate to Ukraine's Armed Forces, hinting that the attack is conducted by Russia or its proxies.

Monobank has previously been targeted in similar cyberattacks. A DDoS attack in January sent over 580 million service requests to the bank's website.

Horokhovskyi did not identify a culprit, though previous threats have been linked to Russian hackers. Russia has launched thousands of cyberattacks against Ukrainian organizations since the start of its full-scale invasion.

Ukrainian hackers in turn have fought back against Russian cyberwarfare by launching attacks of their own. Ukraine's IT Army, a volunteer hacker group, claimed responsibility for a massive DDoS attack against Russian banks and Russia's Mir payment system in June.

Author: The Kyiv Independent news desk

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