Halliburton says a ransomware attack has cost the company $35 million in losses
- Halliburton confirmed losses in its 8-K filing with the SEC
- Ransomware attack attributed to RansomHub occurred in summer 2024
- The crooks stole some sensitive data, but the details are still unknown
Halliburton confirmed that the ransomware attack that recently hit the company cost the company $35 million in losses.
The oil giant shared the news through a quarterly financial report filed with the US Securities and Exchange Commission (SEC).
In late August 2024, the company reported that it had discovered an unauthorized third party in its systems, forcing it to take certain systems offline. As a result, operations were limited and certain customers were disconnected, causing the company to lose millions of dollars.
Steal data
Shortly after the breach was announced, a threat actor named RansomHub took responsibility for the attack. This group rose to prominence following the Change Healthcare breach, after it was confirmed to be the partner that forced the healthcare giant to break up with more than $20 million in ransoms.
Unfortunately for the hackers, they never saw any of that money, as the ransomware’s operators, ALPHV, took all the loot and disappeared into the digital wilderness.
Still, RansomHub said it stole sensitive data from Halliburton, something the company also confirmed in a subsequent 8-K form. However, there is no word on the type of data stolen or its quantity.
“We experienced a $0.02 per share impact to our adjusted earnings due to lost or delayed revenues due to the August cybersecurity event and the Gulf of Mexico storms,” said Jeff Miller, chairman, president and CEO of Halliburton .
“Our full-year expectations for free cash flow and cash returns to shareholders remain unchanged, and we expect both to accelerate in the fourth quarter.”
Halliburton is a global American multinational that provides products and services to the energy industry, primarily in the exploration, development and production of oil and gas. It has a presence in more than 70 countries and generates revenues of more than $20 billion. More than 45,000 people currently work there.
Via BleepingComputer