Meat supplier JBS paid $11 million ransom following cyberattack
JBS, the world's largest meat supplier, announced on Wednesday that after consulting with its tech team and outside cybersecurity experts, it paid an $11 million ransom to hackers to ensure that none of the company's data was stolen.
"It was very painful to pay the criminals, but we did the right thing for our customers," JBS USA CEO Andre Nogueira told The Wall Street Journal. Nogueira learned that JBS was the target of a cyberattack on May 30, when hackers demanded the company pay a ransom in order to reclaim access to its computer system. JBS temporarily suspended operations at nine of its beef processing plants in the United States, in order to slow down the attack.
By the time JBS paid the ransom late last week, most of the plants were back up and running. The payment — made in bitcoin — was meant to "prevent any potential risk" to customers, Nogueira said. The FBI has said the attack was carried out by a group known as REvil, which has links to Russia. Ransomware attacks are on the rise, with victims reporting paying at least $412 million in ransom over the last year.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published