The Israeli government has said it considers the theft by hackers of its citizens' banking information an act of terrorism and has threatened direct action against those involved.
The hacker, known as "0xOmar" and originally thought to be from Saudi Arabia revealed the attack had been carried out last week and claimed that 400,000 card details were compromised.
Banks in Israeli downplayed this, though, claiming only around 15,000 customers were affected.
In response, deputy foreign minister Danny Ayalon said the government considered the attacks to be, "a breach of sovereignty comparable to a terrorist operation", and said the nation would react appropriately.
"Israel has active capabilities for striking at those who are trying to harm it and no agency or hacker will be immune from retaliatory action," he said in widely reported comments.
Ayalon added that the government was considering whether the attack was carried out by a rival nation or organisation as the attack appeared, "more organised and sophisticated ... than a lone youth".
Elsewhere, reports on Reuters suggest the hacker who claimed responsibility for the attack has been identified as a citizen of the United Arab Emirates based in Mexico.
The attack on Israeli banking customers was one of several high-profile incidents last week as Symantec was forced to concede that?some of its Norton AntiVirus source code was hacked, allegedly from servers used by the Indian military, while Anonymous hacked the Sony Pictures site.
Israel has itself been accused of carrying out cyber attacks in the past with the nation widely believed to have been involved in the Stuxnet attack on nuclear facilities in Iran, with backing from the US, in an attempt to disrupt the nation's nuclear development.
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