Kyrocera AVX Hit by Ransomware Attack

Kyrocera AVX, a Japanese electronics manufacturer based in Fountain Inn, South Carolina, has been hit with a ransomware attack. Lockbit ransomware group posted Kyrocera AVX to its dark web blog page on May 26, claiming it will publish all stolen data if the ransom isn’t paid by June 9. Kyrocera AVX was among those believed to have suffered from knock-on effects of a breach on Fujitsu last year, possibly enabling Lockit to carry out a supply chain attack. The company produces electronic parts for military, industrial and automotive industries. It was founded in 1972, employs over 10,000 people around the world, and has been part of Kyrocera, a Japanese electronics company best known for manufacturing printers, since 1990. Kyrocera is believed to be one of ten Japanese companies affected by an attack on Fujitsu in December 2022.

What is Lockbit Ransomware?

Lockbit ransomware is designed to block user access to computer systems in exchange for a ransom payment. It was first identified in 2019 and has previously targeted organizations in the US, China, India, Indonesia, and various European countries. It is a subclass of ransomware called ‘crypto virus’ as it forms ransom requests around financial payment in exchange for decryption. It focuses mostly on enterprises and government organizations rather than individuals. It functions as a Ransomware-as-a-Service operation.