skip_previous play_arrow skip_next
00:00 00:00
  • cover play_arrow

    Rother Radio (128k) Love Local, Love Music!

  • cover play_arrow

    Rother Radio (64K) Love Local, Love Music!

  • cover play_arrow

    Hit Music Radio (128K) More Music Variety!

  • cover play_arrow

    Hit Music Radio (64K) The Best Variety of Hits!

Business News

Meat giant pays almost £8m ransom to hackers after cyber attack


share close

The world’s largest meat processing company has paid a ransom worth $11m (£7.8m) to hackers behind a cyber attack on its computer systems.

JBS – which produces almost a quarter of America’s beef – confirmed it handed over the funds on Wednesday.

It comes after the Brazil-based company revealed on 31 May how its network had been targeted.

Bank of England Governor Andrew Bailey has warned people who buy Bitcoin should be prepared to lose all of their money
Image: Reports suggest the ransom was paid in Bitcoin

The FBI has attributed the ransomware attack to a Russian-speaking gang, REvil, and has vowed to bring the perpetrators to justice.

JBS USA chief executive Andre Nogueira said agreeing to pay the ransom 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,” he added.

More on Us Hacking

The vast majority of the meat giant’s facilities were operational at the time the ransom was paid, JBS said.

But bosses decided to meet the demands to avoid any unforeseen issues and ensure no data was exfiltrated.

Hackers targeted servers supporting JBS operations in North America and Australia, disrupting production for a number of days.

The company halted cattle slaughtering at all of its US plants for a day last week.

The ransom was paid in Bitcoin, the Wall Street Journal reported on Wednesday.

It follows the operator of the largest fuel pipeline in the US, Colonial Pipeline, paying a ransom of 75 bitcoin – then valued at $4.4m (£3.1m) – to Russian hackers in May.

This week, the US Justice Department announced it recovered most of the payment, in what has been described as a rare victory in the battle against ransomware.

JBS, which employs 850 IT staff worldwide, said forensic investigations are ongoing – however it does not believe any company, customer or employee data was compromised.

The FBI revealed earlier this month how it was investigating about 100 different types of ransomware.

Ransom software encrypts victims’ data – with hackers typically offering a key in exchange for cryptocurrency payments often running up to millions of dollars.

 Sky News

© Sky News 2021

Written by: Rother Radio News

Previous post

Music News

Little Mix and Anne-Marie collaboration ‘put on hold amid COVID scare’

Little Mix's collaboration with Anne-Marie has been put on hold after a crew member reportedly tested positive for COVID-19. The chart-topping girl group and the 30-year-old singer - who have been good friends for years - were set to team-up for a track and to record a music video together on Monday (07.06.21), but their plans have been derailed after the crew member tested positive for the illness. A source […]