business news in context, analysis with attitude

The Washington Post reports that the world's largest meat supplier, JBS, when faced with a ransomware attack that temporarily stopped production at nine processing plants in the US as well as other facilities, paid the equivalent of $11 million to the hackers to protect its data and customers.

The Post writes that JBS paid the ransom after its plants restarted their operations, and JBS USA CEO Andre Nogueira described it as "a very difficult decision to make for our company and for me personally."

The story notes that "the FBI attributed the attack to a Russian-linked ransomware group known as both REvil and Sodinokibi."

Some context from the Post story:

"Ransomware attacks have dramatically increased across the country in the past two years, and have recently hit high-profile targets including JBS and Colonial Pipeline. The latter caused long lines and shortages at gas pumps on the East Coast and sent government regulators scrambling to address cybersecurity in both public and private realms.

"Colonial paid about $4.3 million in bitcoin to cybercriminals as a result of its ransomware attack, though federal authorities said this week that they had recovered more than $2 million."

KC's View:

This appears to be a new reality of the world in which we live - that at any moment, hackers who may be state-sponsored are able to bring businesses and utilities to a halt, not to mention get into US government systems.

One wonders why US hackers haven't figured out a way to empty Putin's bank accounts, just as a way of demonstrating that we can do it, too.  (Maybe we can't?)