JBS Foods pays $14.2 million ransom to end cyber attack on its global operations

JBS Foods pays $14.2 million ransom to end cyber attack on its global operations

Posted June 10, 2021

JBS Foods pays $14.2 million ransom to end cyber attack on its global operations

  • Global meat processing company JBS Foods has confirmed that it paid the equivalent of $US11 million ($14.2 million) to a criminal gang to end a five-day cyber attack that halted its operations around the world last week.
  • “This was a very difficult decision to make for our company and for me personally,” said Andre Nogueira, the chief executive of JBS USA.
  • US statistics showed 10 companies paid between $US300,000 to $US10 million to get back online in 2020, according to analyst Simon Quilty.
  • “There is more made out of cyber attacks than the global car industry,” he said.
  • In Argentina, a major competitor for Australia in global beef markets, exports have been suspended.
  • The huge demand for beef was pushing prices too high for the country’s own domestic consumption.

– David Claughton and Nikolai Beilharz | June 10, 2021