Barracuda ransomware group claimed credit for the August 6 attack at the South Korean auto parts supplier, according to a report in Undercode News.
Namyang Industrial is a supplier within the automotive manufacturing environment. NAMYANG NEXMO is an automotive-parts manufacturer producing steering and braking components, with manufacturing operations in Korea and overseas facilities.
If ransomware reaches systems supporting these operations, the impact can extend beyond encrypted computers. Production delays, shipment interruptions, supplier disruption, and recovery costs can quickly become more serious than the ransom demand itself.
One case in point was years ago when a Toyota supplier suffered a cyberattack and it ended up shutting down Toyota’s operations.
In February 2022, Toyota shut down production in Japan because one of its domestic suppliers suffered a cyberattack, company officials said Monday. Kojima Industries was the supplier hit in the attack and it provides plastic and other parts to Toyota.
As a result, the company suspended 28 lines at 14 plants. Toyota subsidiaries Hino Motors and Daihatsu Motor will also halt operations at some plants in Japan.
Namyang Industrial Co., Ltd. (rebranded as NAMYANG NEXMO in 2019) is a specialized South Korean manufacturing company that primarily makes automotive steering and braking system components.
No further information was immediately available on the details behind the hack and how much the attackers were seeking.
For more information on other incidents in the industry click on ICSSTRIVE.com.