A G Equipment Company Suffers Ransomware Attack

Company Overview

A G Equipment Company, a key player in the Energy, Utilities & Waste sector, known for its compressor packaging solutions, has recently fallen victim to a ransomware attack by the group Blackbasta. This incident was disclosed on the group's dark web leak site. A G Equipment Company, located in Broken Arrow, OK, specializes in both reciprocating and rotary screw compressors for a variety of applications.

The company is an integral part of AGCO Corporation, a global leader in the design, manufacture, and distribution of agricultural machinery and precision ag technology. AGCO's extensive brand portfolio includes notable names such as Challenger®, Fendt®, GSI®, Massey Ferguson®, Precision Planting®, and Valtra®. In 2021, the company reported net sales of approximately $11.1 billion.

Vulnerabilities and Impact

The ransomware attack has significantly disrupted A G Equipment Company's operations. The full extent of the damage and the impact on AGCO's production facilities are currently under investigation. This disruption could potentially lead to delays in the delivery of equipment and services. The company is in the process of determining the scope of data exfiltration that occurred during the attack.

Industry Context

The agricultural sector, including farming equipment manufacturers like AGCO, is increasingly being recognized as a target for ransomware attacks, especially during critical planting and harvesting seasons. In response, entities such as the FBI have issued warnings and provided guidance aimed at mitigating the risks associated with these cyber threats.

The ransomware attack on A G Equipment Company underscores the persistent cyber threats facing the energy, utilities, and waste sectors. It emphasizes the importance of prioritizing cybersecurity measures to mitigate the risks of similar attacks in the future.

Sources

• A G Equipment Company. (n.d.). Home. Retrieved April 10, 2024, from https://www.agequipmentcompany.com/
• AGCO. (2022, May 6). AGCO Announces Ransomware Attack. Retrieved April 10, 2024, from https://investors.agcocorp.com/news-releases/news-release-details/agco-announces-ransomware-attack
• AGCO. (2022, May 16). AGCO Provides Update on Recovery from Ransomware Cyber Attack. Retrieved April 10, 2024, from https://news.agcocorp.com/2022-05-16-AGCO-Provides-Update-on-Recovery-from-Ransomware-Cyber-Attack
• PCMag. (2022, May 6). Ransomware Attack Hits Major Farming Equipment Maker AGCO. Retrieved April 10, 2024, from https://www.pcmag.com/news/ransomware-attack-hits-major-farming-equipment-maker-agco
• Reuters. (2022, May 6). AGCO ransomware attack disrupts tractor sales during U.S. planting season. Retrieved April 10, 2024, from https://www.reuters.com/business/agco-says-some-production-facilities-hit-by-ransomware-attack-2022-05-06/
• The Record. (2022, May 6). Agricultural equipment maker AGCO reports ransomware attack. Retrieved April 10, 2024, from https://therecord.media/agco-ransomware-attack-agricultural-sector