Norsk Hydro Security Incident

Fraud Management & Cybercrime , Incident & Breach Response , Managed Detection & Response (MDR) Ransomware Attack Costs Norsk Hydro $40 Million - So Far Norwegian Aluminum Maker Still Fighting LockerGoga Ransomware Attack Scott Ferguson ( Ferguson_Writes ) March 27, 2019 Credit Eligible Get Permission Norsk Hydro's home page Norsk Hydro reports that a March 18 ransomware attack has already cost the aluminum manufacturer more than 350 million Norwegian krone ($40 million), and the company continues to bring its systems back online. See Also: On Demand | Ransomware in 2025: Evolving Threats, Exploited Vulnerabilities, and a Unified Defense Strategy Those costs mostly reflect revenue losses, but they also include the cost of recovery and IT and security services, says Norsk Hydro, the second-largest employer in Norway that has operations around the world. A little over a week after the ransomware attack was first reported, the majority of the company's manufacturing facilities and systems have returned to normal, although the firm's Extruded Solutions division is running at 70 percent to 80 percent of capacity, the company reported Tuesday. That division produces extruded and rolled aluminum products for the company. Most of the financial losses from the attack stem from the lack of production within that unit, which has facilities in several countries. Norsk Hydro's four other divisions are running normally, although some require greater manual operations. "A week later we are relieved to be able to confirm that we have mostly managed to maintain our operations, customer deliveries and other internal and external obligations," says CFO Eivind Kallevik . "Our global IT organizations, operators and support functions have done a tremendous job during this period. And through their impressive determination, ingenuity and experience, they found new and alternative ways to keep our wheels turning despite the impact on...

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