JBS Paid $11m Ransom for Cyberattack

JBS paid a ransom equivalent to USD 11 million to cybercriminals who broke their computer network late last month.

JBS confirmed the payment of the ransom in bitcoin to “mitigate any unforeseen issues related to the attack and ensure no data was exfiltrated”

“This was a very difficult decision to make for our company and for me personally. However, we felt this decision had to be made to prevent any potential risk for our customers,” said JBS USA CEO Andre Nogueira in a statement.

JBS consulted with internal IT professionals and third-party cybersecurity experts to finalize its decision.

The Federal Bureau of Investigation (FBI) attributed the ransomware attack to a group of Russian cybercriminals known as REvil or Sodinokibi in a statement last week.

The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency explained that ransomware is a type of malware that shuts down a company’s computer infrastructure through encryption and the hackers demanding payment for the key to unlocking the system.

JBS reported that forensic investigations are ongoing and it was in constant contact with federal officials. They said that “preliminary investigation results confirm that no company, customer or employee data was compromised.”

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