The Nitrogen ransomware group has claimed responsibility for a significant data breach affecting SRP Federal Credit Union, resulting in the exposure of sensitive personal and financial information belonging to 240,742 members.
According to breach disclosures, unauthorized access occurred between September and November 2024. During this period, threat actors were able to access internal systems and extract highly sensitive member data. The compromised information reportedly includes:
- Social Security numbers (SSNs)
- Driver’s license numbers
- Financial account information
- Other personally identifiable information (PII)
The scope and nature of the exposed data significantly elevate the risk of identity theft, financial fraud, and targeted social engineering attacks against affected members.
While detailed technical indicators and the initial access vector have not been publicly confirmed, ransomware operations such as Nitrogen commonly exploit one or more of the following intrusion pathways:
- Phishing campaigns targeting employee credentials
- Exploitation of unpatched internet-facing systems
- Compromised VPN or remote access services
- Credential stuffing attacks leveraging previously leaked passwords
Once initial access is established, ransomware affiliates typically escalate privileges, conduct internal reconnaissance, and exfiltrate data prior to deploying encryption payloads. The data exfiltration component enables double-extortion tactics, where victims face both operational disruption and the threat of public data disclosure.
Financial institutions remain high-value targets for ransomware groups due to the concentration of sensitive financial records and regulated data. In breaches of this nature, exposed SSNs and driver’s license numbers represent long-term identity risks, as these identifiers cannot be easily rotated or invalidated.
Affected members are generally advised to:
- Monitor financial accounts for unauthorized activity
- Place fraud alerts or credit freezes with major credit bureaus
- Enroll in credit monitoring services if offered
- Be vigilant for phishing attempts referencing the breach
The incident underscores the continued targeting of regional financial institutions by ransomware operators and the importance of layered security controls, including robust endpoint detection, network segmentation, multi-factor authentication (MFA), and continuous monitoring of anomalous access patterns.
Further technical and forensic details may emerge as investigations progress.
SRP Federal Credit Union Data Breach: Nitrogen Ransomware Claims Compromise of 240,742 Member Records
The Nitrogen ransomware group has claimed responsibility for a significant data breach affecting SRP Federal Credit Union, resulting in the exposure of sensitive personal and financial information belonging to 240,742 members.
According to breach disclosures, unauthorized access occurred between September and November 2024. During this period, threat actors were able to access internal systems and extract highly sensitive member data. The compromised information reportedly includes:
- Social Security numbers (SSNs)
- Driver’s license numbers
- Financial account information
- Other personally identifiable information (PII)
The scope and nature of the exposed data significantly elevate the risk of identity theft, financial fraud, and targeted social engineering attacks against affected members.
While detailed technical indicators and the initial access vector have not been publicly confirmed, ransomware operations such as Nitrogen commonly exploit one or more of the following intrusion pathways:
- Phishing campaigns targeting employee credentials
- Exploitation of unpatched internet-facing systems
- Compromised VPN or remote access services
- Credential stuffing attacks leveraging previously leaked passwords
Once initial access is established, ransomware affiliates typically escalate privileges, conduct internal reconnaissance, and exfiltrate data prior to deploying encryption payloads. The data exfiltration component enables double-extortion tactics, where victims face both operational disruption and the threat of public data disclosure.
Financial institutions remain high-value targets for ransomware groups due to the concentration of sensitive financial records and regulated data. In breaches of this nature, exposed SSNs and driver’s license numbers represent long-term identity risks, as these identifiers cannot be easily rotated or invalidated.
Affected members are generally advised to:
- Monitor financial accounts for unauthorized activity
- Place fraud alerts or credit freezes with major credit bureaus
- Enroll in credit monitoring services if offered
- Be vigilant for phishing attempts referencing the breach
The incident underscores the continued targeting of regional financial institutions by ransomware operators and the importance of layered security controls, including robust endpoint detection, network segmentation, multi-factor authentication (MFA), and continuous monitoring of anomalous access patterns.
Further technical and forensic details may emerge as investigations progress.