Ukraine hits data center of Russia’s top ban
Ukraine continued striking Russian data centers this week, hitting one belonging to Sberbank, Russia’s largest bank.
On October 14, Ukraine launched a cyberattack on Sberbank, Russia's largest bank and a major online conglomerate. The targeted data center, located in Balakovo, Saratov region, was under construction and was intended to house the country's most powerful supercomputer and provide backup capacity for government agencies. Despite the attack, the disruption to banking services was minimal as core systems were hosted elsewhere.
Following the attack, Sberbank customers experienced minor issues, while other websites, including Yandex, GigaChat, Kontur, and Ozon, reported technical problems. The disruption peaked at 11:10 a.m. Moscow time, after which errors began to decline. Sberbank has two other unaffected data centers in Moscow and Moscow Oblast. The ongoing Ukrainian campaign could undermine Russians' confidence in the banking system, but a systemic crisis appears unlikely.
As cash usage rises amid internet disruptions, tax anxiety, and rumors of potential mobilization, a potential increase in cash circulation could lead to an expansion of the shadow economy and liquidity shortages in the banking sector, affecting banks' financial results and lending rates.
Written by urgent.news from The Bell's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
