World’s Biggest Meat Production Company, JBS, Pays $11M in Bitcoin to Ransomeware Hackers

The USA branch of the biggest meat producer, JBS, has paid over $11 million worth of Bitcoin to cybercriminals. This was done in a bid to prevent the firm from getting further attacks. Ransomeware hackers are indeed becoming consistent threats to USA businesses.

Ransomeware attackers intercepted the server of the firm last week, locking vital information and programs in the process. The Federal Bureau of Investigation (FBI) connected the dots to indict a popular cybercriminal gang called REvil. Similar to recent ransomware attacks, the hackers demanded the pay in Bitcoin.

The crippling effect of the hack triggered the department to release the demanded ransom. It was also made to prevent further attacks of that nature. Wall Street Journal reported that JBS USA wired over $11 worth of Bitcoin to the hacker’s address.

The CEO of the JBS department in the US, Andre Nogueira, explained that fears of further attacks prompted the swift payment. He explained that consideration for their customers made it illogical to take the risks of recovery – which might not amount to much at the end. However, Nogueira said the payment was made after the release of some of the plants in the company. 

Ransomeware Attackers on Rampage In the US

Although attacks of the above nature are novel in the United States or anywhere, they have been on the increase since the pandemic struck. The cases in the US have severely affected top firms and have led to massive losses. The US government has begun to pay closer attention to crimes of this nature. 

Reports of ransomware attacks on Colonial Pipeline Co made headlines globally. Other entities like Kia Motors America and Steamship Authority were also affected. The US Deputy Press Secretary Jean-Pierre opined that compacting ransomware attacks is a top priority for the government. 

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