$40 Million & Counting, Ransomware Attack Being Proven Costly For Norsk Hydro

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The Norsk Hydro reports that the march 18 ransomware attack has already cost the company more than US $40 million as the company continues to bring its systems back online.
Last week the world’s leading producers of aluminum, Norwegian giant Norsk Hydro was enforced to shut down its internal network after some of its computers in the United States and across Europe were knocked out by ransomware, leaving companies’ IT systems ineffectual. The estimated cost mostly reflects revenue losses due to operation disability, but they also include the cost of recovery and IT and security services, says Norsk Hydro. The cost is expected to be revised at a later date as the company still fighting to bring back its system in fully operational mode. The attack has been attributed to LockerGoga, an extremely innovative ransomeware which was also responsible for the attack on French company Altran Technologies last month.
Based on a press release from Norsk Hydro on 19th March , the company has provisionally shut down plants as well as switched to manual operations, “wherever possible,” in several countries other than Norway, Qatar, and Brazil in an effort resist further infection of the malicious program which first had been observed at Midnight at one of its US plant. The attack was only detected by company’s IT team by the evening next day.
“Hydro’s chief concern is to carry on ensuring secure operations as well as put a limit on operational and monetary impact. The setback has not led to several safety-related incidents,” based on the evidences provided by the company.
In a 18 minutes long video press conference, the CFO of Norsk Hydro, Eivind Kallevik said that, Norsk Hydro systems had been attacked by a comparatively uncommon form of ransomware, popularly known as LockerGoga, that encrypts all files on the infected computers and demands for ransom to restore back.
According to, Eivind Kallevik, “This above situation is moderately brutal. The complete worldwide network is downward, upsetting every part of production and our office operations”.
Norwegian National Security Authority (NNSA) has been engaged into the matter. The agency is cooperating with Norsk Hydro to investigate the incident in coordination with other international agencies.
According to the company, “It is moreover untimely to specify the operational as well as economic impact, as well as timing for resolution of the circumstances”. Norsk Hydro admitted that their operation is yet to fully restored, so financial damaged is expected to extend. Moreover the estimation does not include the cost it took on the brand reputation of the company. However the company denied to make a comment on a question i.e. if they had to pay a ransom to the attacker whose identity yet to be disclosed.
Norsk Hydro is the most recent victim of destabilizing ransomware attack that has crippled countless big brands in last few years.