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Saturday, May 18, 2024

BlackMatter Ransomware Group Hits Iowa Grain Cooperative

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Fort Dodge-based NEW Cooperative confirms it was hit by a ransomware attack last weekend which took its computer systems offline.The attack hit just as Iowa’s corn and soy harvesting is getting underway.

In a company statement, the ag company recently identified a cybersecurity incident that is impacting some of the company’s devices and systems.

“Please know that NEW Cooperative is treating this matter with the utmost seriousness, and we are using every available tool and resource to quickly restore our systems,” the company said. “We appreciate the patience of our valued customers as we investigate this matter and work to restore functionality and will share additional information directly with our customers as we learn it.”

NEW Cooperative have taken their systems offline to contain the threat which has been successfully contained.

The company notified law enforcement who are working closely with data security experts to investigate and remediate the situation. The NEW Coop received a ransom demand for $5.9 million dollars from the cybercriminal group known as Black Matter. NEW Cooperative did not say whether it had paid a ransom.

The cyberattack could have potentially endangered operations for the agricultural supply chain in the country. NEW Cooperative operates 60 operating facilities in northern, central and western Iowa.

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