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Thursday 22 July 2021 1:42 pm

Saudi Aramco ‘faces $50m ransom’ after data leak

By: Edward Thicknesse

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Oil behemoth Saudi Aramco saw its second quarter profit jump fourfold on the back of rising crude prices and increased demand for fuel.

Saudi Aramco is reportedly facing a $50m (£36.3m) ransom demand after a data leak from one of its contractors.

The world’s largest oil firm confirmed in a statement that it “recently became aware of the indirect release of a limited amount of company data which was held by third-party contractors.”

Aramco added: “We confirm that the release of data was not due to a breach of our systems, has no impact on our operations and the company continues to maintain a robust cybersecurity posture.”

According to the AP, a page on the dark web claims that the ransomers are holding 1 terabyte worth of the firm’s data.

The state-owned firm has been offered the chance to have the data deleted in return for $50m in cryptocurrency, it added.

It is the second time this year that a industry player has come under cyber attack, after the Colonial Pipeline in the US was targeted by hackers in May.

On that occasion, the attackers demanded $4.4m in bitcoin in return for handing back control of the pipeline, which carries around 3m barrels of oil a day between Texas and New York.

The attacks have led to fears that critical national infrastructure assets could increasingly come under assault from cyber criminals.

Read more

Professional services firms the ‘flavour of the month’ for cyberattacks

The ICO said it initially planned to fine Capita a total of £45m, but this was later reduced by “mitigating factors”

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