alphv attacks Chem-Tech Neogen
Incident Date:
February 8, 2022
Overview
Title
alphv attacks Chem-Tech Neogen
Victim
Chem-Tech Neogen
Attacker
Alphv
Location
First Reported
February 8, 2022
Chem-Tech Neogen Ransomware Attack
Company Overview
Chem-Tech Neogen, a 35-year-old company based in Pleasantville, Iowa, specializes in the production and distribution of the Prozap® insecticide brand, catering primarily to the dairy and equine sectors within the large animal production industry. Since its acquisition by Neogen Corporation in 2014, Chem-Tech Neogen has reported revenues exceeding $14 million over the most recent 12-month period.
Vulnerabilities
The precise vulnerabilities that facilitated the ransomware attack on Chem-Tech Neogen remain unspecified. Nonetheless, it is widely acknowledged that ransomware groups exploit a range of weaknesses, including software vulnerabilities, outdated systems, and human factors such as susceptibility to phishing schemes.
Industry Impact
The agriculture sector, among others, has witnessed a significant rise in ransomware attacks. In 2022 alone, there were 493.33 million ransomware attacks detected globally. Phishing was the leading method of attack, accounting for 62% of successful breaches. The average ransom payment soared to $812,360, with 36% of paying businesses experiencing at least one more attack.
Mitigation Strategies
To counter the threat of ransomware, organizations are advised to adopt comprehensive cybersecurity practices. These include conducting regular software updates, providing employee training on cybersecurity awareness, and maintaining robust backup systems. Equally important is the development of a detailed incident response plan to effectively address and mitigate the consequences of an attack.
The ransomware attack on Chem-Tech Neogen underscores the critical importance of cybersecurity vigilance within the Agriculture sector. While the specific vulnerabilities exploited in this incident remain unidentified, staying abreast of ransomware trends and adopting best practices for prevention and response are imperative for organizational security.
Sources
Recent Ransomware Attacks
The Recent Ransomware Attacks (RRA) site acts as a watchtower, providing you with near real-time ransomware tracking of attacks, groups and their victims. Given threat actors’ overarching, lucrative success so far, ransomware attacks have become the most ubiquitous, and financially and informationally impactful cyber threat to businesses and organizations today.
The site’s data is generated based on hosting choices of real-world threat actors, and a handful of other trackers. While sanitization efforts have been taken, we cannot guarantee 100% accuracy of the data. Attack updates will be made as source data is reported by reputable sources. By viewing, accessing, or using RRA you acknowledge you are doing so at your own risk.