lockbit2 attacks Silver Bay Seafoods
Incident Date:
May 10, 2022
Overview
Title
lockbit2 attacks Silver Bay Seafoods
Victim
Silver Bay Seafoods
Attacker
Lockbit2
Location
First Reported
May 10, 2022
Ransomware Attack on Silver Bay Seafoods
Company Overview
Silver Bay Seafoods, established in 2007, has evolved from a singular salmon processing facility in Sitka, Alaska, to a prominent seafood processor with six processing facilities across Alaska and the West Coast. The company's success is attributed to its advanced processing plants, efficient logistics, skilled management, a well-established fish buying system, and significant ownership by fishermen, who contribute over 80% of the fishing effort.
Vulnerabilities and Targeting
The recent ransomware attack on Silver Bay Seafoods by the Lockbit2 group illuminates the growing trend of ransomware incidents targeting businesses globally. In 2022, 71% of organizations reported experiencing at least one ransomware attack, with the average total cost of an attack escalating to $4.3 million. This incident emphasizes the critical need for enhanced cybersecurity defenses to mitigate such threats.
Industry Trends
The Manufacturing sector, including seafood processing, has become a prime target for ransomware attacks, evidenced by 90% of financial institutions reporting ransomware incidents in 2022. The sector's dependence on digital infrastructure coupled with the high stakes of potential financial repercussions renders it particularly vulnerable to cybercriminal exploits.
The ransomware attack on Silver Bay Seafoods is a stark reminder of the persistent cyber threats facing the Manufacturing sector. With the industry's shift towards increased digitalization, investing in comprehensive cybersecurity strategies is imperative for safeguarding against future attacks.
Sources
- Silver Bay Seafoods. (n.d.). Welcome To Silver Bay Seafoods. Retrieved April 10, 2024, from https://www.silverbayseafoods.com
- Spin.AI. (2024). Ransomware Tracker 2024: Recent Ransomware Attacks. Retrieved April 10, 2024, from https://spin.ai/resources/ransomware-tracker/
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.