Keytronic Cyberattack by Blackbasta Ransomware
Incident Date:
May 31, 2024
Overview
Title
Keytronic Cyberattack by Blackbasta Ransomware
Victim
Keytronic
Attacker
Blackbasta
Location
First Reported
May 31, 2024
Blackbasta Ransomware Attack on Keytronic
Keytronic Overview
Key Tronic Corporation, commonly known as Keytronic, is a leading contract manufacturer specializing in PCB assembly, plastic molding, and full product assembly. Employing approximately 5,447 full-time staff, Keytronic provides integrated electronic and mechanical engineering services, sourcing and procurement, logistics, and new product testing. The company reported total revenue of $518.7 million for fiscal year 2021, highlighting its robust presence in the technology sector.
Keytronic's Standout Features
Distinguished by its unique blend of high-caliber design, engineering, and manufacturing services, Keytronic excels in the industry. The company's flexibility and responsiveness to customer needs have positioned it as a leader in delivering tailored solutions across various industries.
Keytronic's Vulnerabilities
As a prominent contract manufacturer in the technology sector, Keytronic’s extensive capabilities in product design, assembly, and sourcing make it an attractive target for threat actors like the Blackbasta ransomware group. The company’s global footprint, with facilities in multiple countries, poses challenges in maintaining a unified security posture across its operations.
Blackbasta Ransomware Group
Black Basta is a ransomware operator and Ransomware-as-a-Service (RaaS) criminal enterprise that emerged in early 2022. Targeting organizations worldwide, the group employs highly targeted attacks and utilizes double extortion tactics to extort ransom payments from victims. Black Basta has a history of targeting critical infrastructure sectors and has achieved significant financial gains through ransom payments.
Attack Overview
In May 2024, Key Tronic Corporation detected unauthorized access to its IT systems by the Blackbasta ransomware group. The company promptly initiated a cyber incident response, involving external cybersecurity experts and law enforcement. Although the incident disrupted various business applications, the unauthorized activity has been contained. Keytronic does not anticipate a material effect on its financial condition or operations and is working diligently to restore affected systems.
Sources:
- Keytronic Company Profile
- Keytronic Investor Relations
- Keytronic LinkedIn Profile
- Key Tronic Corporation Profile on Yahoo Finance
- Key Tronic Corporation on Market Screener
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- Understanding Black Basta Ransomware - Flashpoint
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- Black Basta Ransomware Victim - Infosecurity Magazine
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.
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