lockbit3 attacks New West Metals Inc.
Incident Date:
August 6, 2022
Overview
Title
lockbit3 attacks New West Metals Inc.
Victim
New West Metals Inc.
Attacker
Lockbit3
Location
First Reported
August 6, 2022
New West Metals Inc. Suffers Ransomware Attack by Lockbit3
New West Metals Inc., a Canadian metal supplier and distributor, has been targeted by the ransomware group Lockbit3. The attack was announced on the group's dark web leak site, and the victim's website is currently under threat. The company, operating in the Manufacturing sector, has been a significant player since 1982.
Company Overview
New West Metals is a distributor of specialty metals, offering a wide range of products including aluminum, brass, bronze, copper, nickel alloys, other products, specialty steels, stainless steel, and tool steels. The company is known for its fast, on-time delivery across Canada and accommodates projects of any size with no minimum order requirement.
Vulnerabilities and Targeting
The specific vulnerabilities exploited in the attack on New West Metals have not been disclosed. Ransomware attacks typically leverage weaknesses in outdated software, unpatched systems, or through phishing scams. The COVID-19 pandemic has seen a surge in cyberattacks, with ransomware incidents increasing by 800%.
Industry Impact
The Manufacturing sector has become a prime target for ransomware attacks, with 90% of financial institutions reporting incidents in 2022. The sector's dependency on digital systems and the high stakes involved in potential data breaches make it particularly vulnerable to cybercriminal activities.
Mitigation Strategies
While New West Metals has not publicly shared its mitigation strategies, it is crucial for companies to adopt comprehensive cybersecurity measures. These include conducting regular software updates, providing employee training on cybersecurity awareness, and implementing backup systems to reduce the impact of ransomware attacks.
Sources
- New West Metals Inc. Website: https://newwestmetals.com
- Clean Harbors Statement on Ransomware Attack: https://fr.cleanharbors.com/septemberevent
- Wall Street's Stock-Lending Tech Firm Goes Down in Cyberattack: https://www.bnnbloomberg.ca/wall-street-s-stock-lending-tech-firm-goes-down-in-cyberattack-1.2025980
- FBI Struggled to Disrupt Dangerous Casino Hacking Gang: https://www.reuters.com/technology/cybersecurity/fbi-struggled-disrupt-dangerous-casino-hacking-gang-cyber-responders-say-2023-11-14/
- Top Cyber Security Experts Report: 4,000 Cyber Attacks a Day Since COVID-19 Pandemic: https://www.prnewswire.com/news-releases/top-cyber-security-experts-report-4-000-cyber-attacks-a-day-since-covid-19-pandemic-301110157.html
- Ransomware Tracker 2024: Recent Ransomware Attacks - Spin.AI: 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.