Aebi Schmidt latest manufacturer dealing with cyberattack

News by Doug Olenick

Swiss firm gets hit with ransomware demand

Swiss heavy equipment company Aebi Schmidt apparently was hit with a ransomware attack earlier this week.

The company has not issued a public report on the incident, but told TechCrunch that its Windows environment had been hit with malware and the company had shut down that portion of its network while it deals with the situation.

Aebi Schmidt employees had been sent home due to the attack, which was described as ransomware, TechCrunch reported, citing other sources at the company.

" It could be a nation-state, competitor, or someone trying to manipulate the stock price for financial gain. With ransomware attacks targeting manufacturing and critical infrastructure, the goal is more likely to cause disruption than to actually extract ransom payments. The political and financial damages from these attacks can be far greater," said Saurabh Sharma, Virsec’s vice president.

If ransomware is behind this attack then Aebi Schmidt would be the latest big firm to have its operations disrupted, joining The Weather Channel and Norsk Hydro. The TV network was taken off the air for almost one hour earlier this week. The Norwegian aluminum maker was hit with LockerGoga ransomware in March shutting down a large portion of its operation and costing the company an estimated $40 million in damage.

SC Media has contacted Aebi Schmidt for additional information on the situation.

Dr Darren Williams, CEO and Founder of BlackFog, told SC Media UK that although organisations across the globe now accept that a breach is inevitable, increasingly organisations underestimate the long-term impacts associated with a cyberattack. These potentially devastating malware attacks will continue to happen as more and more organisations around the globe become entirely dependent upon technology to run their operations, he said.

"Hackers have become increasingly sophisticated leveraging AI and cybercriminal networks to share working exploits. Organisations, need a multi-layer defence system that can protect them from data loss, as well as unauthorised data profiling and collection," he said.

"Despite the prevalence of security solutions that focus on intrusion detection, such as Firewalls, or signature detection with Anti-Virus solutions, it is inevitable that attackers will infiltrate the network. It is critical that organisations adopt new technologies that focus on data exfiltration and behavioural monitoring to prevent the activation and spread of these new forms of malware and ransomware."

The original version of this article was first published on SC Media US.

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