Disclosure context

About Icefire

IceFire is a ransomware operation that emerged in August 2022, primarily motivated by financial gain through extortion campaigns targeting various organizations. The group operates as an independent ransomware family with suspected ties to Russian-speaking cybercriminals, though definitive attribution remains unclear. IceFire employs double extortion tactics, stealing sensitive data before deploying their ransomware payload, and has been observed using various initial access methods including exploiting known vulnerabilities in internet-facing applications and services. The ransomware utilizes strong encryption algorithms to lock victim files and threatens to publish stolen data on leak sites if ransom demands are not met. While the group has maintained a relatively low profile compared to other major ransomware operations, security researchers have documented approximately 11 confirmed victims across different sectors since their emergence. IceFire remains active as of current intelligence reporting, continuing to evolve their tactics and target organizations globally. The group has been linked to 11 public disclosures across our corpus. First observed on a leak site on August 20, 2022. The operation is currently inactive.

Timeline of this disclosure

August 20, 2022*.algotrader.com listed by Icefireon the group's public leak site

Sector and geography

This disclosure adds to ransomware activity in the Financial Services sector, which has 516 disclosures indexed across all operators we track. Geographically, *.algotrader.com is reported in Switzerland, a country with 78 ransomware disclosures in our corpus.

How we know this. Darkfield monitors public ransomware leak sites continuously, archiving every new disclosure and the data later released against the victim. Each entry on this page is sourced from the operator's own publication and cross-checked against complementary OSINT feeds (RansomLook, ransomware.live, RansomWatch). We do not collect or host stolen data — only the metadata, timestamps and screenshots needed to make the public disclosure searchable and accountable. Records here are corrected when the original post is edited, retracted, or merged with another disclosure.

Ransomware victim disclosure

← All victims

AlgoTrader AG

listed as *.algotrader.com · Claimed by Icefire · listed 4 years ago

45m

Age

since listed · data leaked

Status timeline

Listed
Aug 20, 2022
Data leaked

At a glance

Group: Icefire
Status: Data leaked
Country: Switzerland
Sector: Financial Services
Listed on leak site: Aug 20, 2022

About the victim

AI dossier — public-source company profile

AlgoTrader is a Switzerland-based financial technology company that provides institutional-grade algorithmic trading software for quantitative trading, crypto, and traditional asset classes. The platform supports automated trading strategy development, backtesting, and live execution across multiple asset classes and exchanges. It serves hedge funds, proprietary trading firms, and financial institutions.

Industry: Algorithmic Trading Software & FinTech
Employees: 11-50
Founded: 2014

Attack summary

Severity: high — AlgoTrader serves institutional financial clients and handles sensitive algorithmic trading infrastructure, source code, and potentially client financial data. Data_published status indicates confirmed exfiltration. Exposure of trading logic, client data, or API credentials poses significant financial and reputational risk, though no confirmed regulated PII at scale is evidenced.

The IceFire ransomware group claims a successful attack against AlgoTrader, with the disclosure status recorded as data_published, indicating exfiltration and/or publication of stolen data. No specific data volume or ransom demand was stated in the captured post.

high

Data the group says was taken

AI dossier — extracted from the leak post

Proprietary trading software source code
Client financial data
Internal business documents
Employee records
Configuration and API credentials

Sources

Victim sitealgotrader.com

Source

Indexed 4 years ago

This page surfaces a public ransomware disclosure indexed by Darkfield. Original posts come from the operator's own leak site; we cross-check against ransomware.live, RansomLook and RansomWatch where applicable. Share this URL freely.