Ransomware incident at Norsk Hydro takes total loss to $40m

Norway headquartered multinational manufacturer Norsk Hydro a major aluminum producer globally reported during the week of 18th March that it fell victim to a ransomware attack which disturbed the IT systems and production it maintained. The following week the Norwegian aluminum manufacturer computes that the ransomware incident has by now caused a total loss of USD 40m.

The ransomware, which contaminated several computers installed at the manufacturing company as also affected operations in its many areas, is the familiar LockerGoga. From information available till now, including that from the aluminum producer itself, it is plain that the assault impacted production environments of the organization as it caused halting of production else starting manual operations in many of its production plants.

At the time Norsk Hydro managed gaining hold over the situation, it switched from automatic operations to manual functioning at its aluminum factories. Subsequently, LockerGoga pretty fast attacked two other aluminum manufacturing companies within USA - Momentive and Hexion, which make silicones and resins apart from other
materials, while bear an interconnection via an investment fund which they mutually operate.

Meanwhile, Motherboard reports Friday that LockerGoga crashed Momentive, March 12, causing worldwide IT outage for the company. As Jack Boss, CEO says the assault even compelled his organization towards forming "SWAT teams" which would deal with the issues which the ransomware caused. Momentive along with Hexion has already received an arbitrary message, depicting both as being struck with the same ransom software just as Norsk Hydro.

At the time LockerGoga hit the systems, there emerged one blue screen following which the files nearly instantaneously became encrypted, as stated an existing employee to Motherboard. The employee's name is, however, undisclosed because he's not currently granted the permission for speaking regarding the incident. Bitcoinexchangeguide.com posted this, March 26, 2019.

The $40m losses of Norsk Hydro are expected to get coverage from its cyber-insurance facility, although the amount is unknown. Usually, the cyber-insurance policies do not of necessity recompense revenue losses occurring from failure in business capabilities. But, in the case of Norsk Hydro there's certainly a far favorable possibility of the company convincing its insurer for getting the coverage.

» SPAMfighter News - 3/29/2019