Axis Digital Breach Incident Score: Analysis & Impact (DELAXI1766987209)

In this Rankiteo incident briefing, we review the Axis Digital breach identified under incident ID DELAXI1766987209.

The analysis begins with a detailed overview of Axis Digital's information like the linkedin page: https://www.linkedin.com/company/axisdigitalpro, the number of followers: 221, the industry type: IT Services and IT Consulting and the number of employees: 17 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 751 and after the incident was 703 with a difference of -48 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Axis Digital and their customers.

U.S. Victims recently reported "International Cryptocurrency Investment Scam and Money Laundering Scheme", a noteworthy cybersecurity incident.

Five men from China, the United States, and Turkey pleaded guilty to their involvement in an international crime ring and laundering nearly $37 million stolen from U.S.

The disruption is felt across the environment, plus an estimated financial loss of $36.9 million.

Formal response steps have not been shared publicly yet.

The case underscores how Ongoing (Eight co-conspirators pleaded guilty, others charged), teams are taking away lessons such as Increased awareness of social engineering scams, particularly cryptocurrency investment fraud (pig butchering/romance baiting). Need for stricter monitoring of international financial transactions and shell companies used for money laundering, and recommending next steps like Enhance public education on recognizing social engineering scams, Implement stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) measures for cryptocurrency transactions and Improve international cooperation to track and dismantle transnational crime rings.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Phishing (T1566) with high confidence (90%), supported by evidence indicating unsolicited social media messages, phone calls, and online dating platforms and Phishing: Spearphishing via Service (T1566.003) with moderate to high confidence (80%), supported by evidence indicating online dating services to gain their trust. Under the Resource Development tactic, the analysis identified Acquire Infrastructure: Domains (T1583.001) with moderate to high confidence (70%), supported by evidence indicating fraudulent digital asset investments and Obtain Capabilities: Code Signing Certificates (T1588.003) with moderate confidence (50%), supported by evidence indicating shell companies and U.S. bank accounts. Under the Defense Evasion tactic, the analysis identified Masquerading (T1036) with moderate to high confidence (80%), supported by evidence indicating shell companies, U.S. bank accounts, and cryptocurrency wallets and Modify Cloud Compute Infrastructure (T1578) with moderate confidence (60%), supported by evidence indicating axis Digital Limited under Deltec Bank account. Under the Credential Access tactic, the analysis identified Unsecured Credentials: Private Keys (T1552.004) with moderate confidence (50%), supported by evidence indicating cryptocurrency wallets to launder funds. Under the Collection tactic, the analysis identified Data from Information Repositories (T1213) with moderate to high confidence (70%), supported by evidence indicating tricked victims into investing in fraudulent digital assets. Under the Exfiltration tactic, the analysis identified Exfiltration Over Alternative Protocol (T1048) with high confidence (90%), supported by evidence indicating funds transferred to a digital wallet in Cambodia as Tether (USDT). Under the Impact tactic, the analysis identified Resource Hijacking (T1496) with moderate to high confidence (80%), supported by evidence indicating $36.9 million stolen from U.S. victims. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.