JBS Paid $11 Million In Ransom After Cyberattack, CEO Says

“It was quite painful to cover the offenders, but we did the Best thing for our clients,” Nogueira advised the Journal.

Over a week passed, Brazil-based JBS declared. The assault forced JBS, which will be the world’s biggest meat maker, to shutter many of its own U.S. centres, temporarily accepting 20 per cent of the nation’s beef production capability offline, even though the provider fully reopened days after.

Colonial Pipeline additionally paid $4.4 million in ransom past Month, following a cyberattack that compelled the company to shut down a pipeline that conveys 45 per cent of their East Coast’s gas supplies, inducing days of gas shortages and panic-buying. Colonial CEO Joseph Blount told the Journal that he was uneasy with paying the ransom, but he believed it had been”the ideal thing to do to the nation.”

Distributing ransom to cybercriminals is a contentious tactic. Some experts warn that hackers rewarding for their attempts could Embolden them to take out future attacks, even though executives such as Blount and Nogueira have framed these ransom obligations as their sole secure alternative. Following the Colonial Pipeline hack month, the Biden government defers personal companies’ decision to pay the ransom.

- Advertisement -
Avatar photo
Adam Collins
Adam writes about technology, business and economics. With master's degree in Economics, he's presented six papers in international conferences. As a solivagant in the constant state of fernweh, curiosity is the main weapon in his arsenal.

Latest articles

Related articles