Cyber Incident Victim: Compagnie Monegasque de Banque
Date:
May 2016
Location:
Monaco
Summary
Anonymous conducted distributed denial-of-service (DDoS) attacks targeting multiple global financial institutions, including Bank of Compagnie Monegasque, as part of Operation OpIcarus. The attacks disrupted online services, forcing temporary website outages across several central banks. This campaign aimed to protest governmental actions and express solidarity with global social movements, leveraging coordinated cyber assaults to amplify hacktivist messaging. The group collaborated with affiliates like Ghost Squad to execute high-impact attacks, emphasizing their intent to persist despite law enforcement interventions. The incident formed part of a broader pattern of disruptive actions against banking infrastructure to challenge institutional authority and promote digital activism.
| CIA Posture | Motives | Tactics, Techniques & Procedures |
|---|---|---|
| Available to members | 3 motives | 1 technique |
| Threat Actors | Type | Location |
|---|---|---|
| 2 actors | Available to members | Available to members |
Description
On May 15, 2016, hacktivist group Anonymous conducted a series of distributed denial-of-service (DDoS) attacks targeting multiple global financial institutions as part of Operation OpIcarus, including the Bank of Compagnie Monegasque. These attacks formed part of a broader campaign relaunched in March 2016, with Anonymous and affiliated group Ghost Squad deploying 250 Gbps DDoS assaults against central banks and monetary authorities worldwide. The Bank of Compagnie Monegasque was among the earlier wave of targets that included the Central Bank of Jordan, Central Bank of South Korea, Central Bank of Montenegro, Bank of Greece, Central Bank of Cyprus, Dutch Central Bank, Central Bank of Guernsey, Maldives Monetary Authority, and Central Bank of Bosnia and Herzegovina. While the exact date of the Bank of Compagnie Monegasque attack wasn't specified in available reports, it occurred during the operational surge preceding the May 15 article publication. The attacks forced targeted banking websites offline for extended periods, disrupting public access to online services. No data breaches or financial thefts were reported in connection with these incidents, with the primary impact being temporary website unavailability.
The attackers publicly justified Operation OpIcarus as a protest against global financial systems and to demonstrate solidarity with social movements, including the #NuitDebout protests in France and the #FreeAnons campaign supporting arrested hackers. Anonymous coordinated attacks through a dedicated Facebook event page, sharing screenshots and attack updates with supporters. By the time of the May 15 report publication, all affected banking websites including those targeted earlier like the Bank of Compagnie Monegasque had been restored to normal operation. The campaign continued with new targets on May 13-14, 2016, when Anonymous attacked five additional banks including the Bank of France and Philippine National Bank, explicitly linking these actions to recent arrests of hackers and ongoing street protests. The operation demonstrated sustained capability to disrupt financial institutions through high-volume DDoS attacks, though no permanent damage or data compromise was confirmed across the targeted entities.