British water provider Southern Water has revealed that last year's cyberattack by the Black Basta ransomware gang caused costs of £4.5 million ($5.7 million).
Southern Water is a private company in the south of England, which provides water services to 2.7 million customers and sewerage services to more than 4.7 million customers in many areas of the country.
In February 2024, the company announced that it had suffered a breach, which did not affect its operations, financial systems or customer-related systems. The attack on Southern Water was claimed by the notorious ransomware gang , which has repeatedly targeted organizations involved in critical infrastructure.
See also: Defense lessons against Black Basta Ransomware
A recent financial report from the company shows that the cost of the Black Basta attack amounted to around £4,500,000.
“In February 2024 we announced that data from a limited portion of our server estate had been stolen through an illegal intrusion IT systems our,” states .
“In response, we have engaged external cybersecurity experts and legal counsel and have contacted the individuals whose personal data may have been compromised… We have incurred £4.5 million in responding to this incident over the course of the year.“.
This financial loss does not include the reputational damage, legal fees, and potential regulatory scrutiny that may accompany similar security incidents.
Southern Water claims to have tasked experts to constantly monitor the dark web for data leaks that might affect the company or its customers (which has not yet happened).
See also: Confluence Server vulnerability allows LockBit Ransomware attacks
It is worth noting that a few days ago, internal conversations of the Black Basta ransomware gang were leaked, which revealed that Southern Water allegedly offered to pay a ransom of £750,000 ($950,000) on February 12, 2024. The attackers had originally demanded a payment of $3,500,000 by the end of February 2024. However, the company’s listing has been removed from the Black Basta gang’s extortion website, indicating that the two may have reached some kind of agreement. The company has not confirmed this.
Cyberattacks on water providers
Attacks on water systems can cause significant disruptions to water supplies. This can lead to widespread water outages, affecting both domestic uses and industrial processes.
Additionally, these cyberattacks can falsify water quality. Hackers can change the settings of chemicals used to treat water, creating dangerous conditions for public health.
See also: CL0P Ransomware attacks telecom and healthcare sectors
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Of course, there can also be serious financial losses, as in the case of Southern Water. Restoring water systems after an attack can be very expensive, while the interruption of water supplies can have a negative impact on the economy.
Finally, these attacks can cause a loss of public trust. Citizens depend on water systems for their daily lives and the threat of attacks can create a sense of insecurity.
Source: www.bleepingcomputer.com
