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Schlatter Industries Disrupted by Likely Ransomware Attack

Cyber Security

Schlatter Industries Disrupted Ransomware Attack

Business Honor
15 August, 2024

Founded in 1916, Schlatter is renowned for manufacturing welding and weaving machines for a range of industries

Swiss industrial manufacturer Schlatter Industries AG experienced significant IT service disruptions following a cyberattack on Friday. The company confirmed the incident in a statement today, describing it as a "cyber-attack using malware." Schlatter's internal and external experts are collaborating to contain the damage, and authorities have been notified. The company is currently investigating whether sensitive data was stolen during the breach.

While Schlatter did not specify the type of malware involved, the company's acknowledgment of a blackmail attempt strongly suggests ransomware. In such cases, attackers typically encrypt critical data and demand a ransom in exchange for decryption keys and a promise not to release any stolen information. Founded in 1916, Schlatter is renowned for manufacturing welding and weaving machines for a range of industries. The attack is unlikely to be politically motivated, as Schlatter does not engage in contentious sectors like defense. Instead, the incident appears financially driven, with cybercriminals hoping for a payout to prevent further complications.

The company has not disclosed details on how the breach occurred. However, cybersecurity experts, including Roger Grimes from KnowBe4 Inc., emphasize the importance of understanding the attack's entry point. Whether through social engineering, unpatched software, or compromised credentials, identifying the cause is crucial to preventing future incidents. As Schlatter works to restore its systems, the incident serves as a stark reminder of the persistent threat posed by ransomware to businesses across all sectors.