Cheung Woh: A World-Class Manufacturer Targeted by Lockbit3 Ransomware

Cheung Woh, a premier manufacturer and supplier of HDD components and precision metal components, recently fell victim to the Lockbit3 ransomware group. This company, which prides itself on continuous delivery of quality products and services to meet customer needs, growth achievement, and maximizing shareholder returns, operates within the Manufacturing sector. Despite its mission, the company's digital presence at http://www.cheungwoh.com.sg/ does not disclose the size of the organization or specific vulnerabilities that might have led to the ransomware attack.

Lockbit3, active since at least 2020, is notorious for its involvement in deploying ransomware to infiltrate computer systems, encrypt and exfiltrate data, followed by demanding ransoms for data decryption. This group, along with its deployment of LockBit, Babuk, and Hive ransomware variants, has been implicated in a series of ransomware attacks targeting diverse sectors, including law enforcement, healthcare, and education. The cumulative ransom demands and payments associated with these campaigns reportedly total up to $200 million, highlighting the significant financial impact of these cybercriminal activities.

The incident involving Cheung Woh underscores the critical importance for organizations to maintain vigilance and implement comprehensive cybersecurity measures to safeguard their data and systems. It also emphasizes the necessity for businesses to stay informed about the evolving cybersecurity threat landscape to preemptively address potential vulnerabilities.

Sources

• Cheung Woh: About Us. (n.d.). Retrieved April 10, 2024, from http://www.cheungwoh.com.sg/about-us/
• IES Magazines_04Apr2018_r14.indd. (2018, April 4). Retrieved April 10, 2024, from https://www.ies.org.sg/Tenant/C0000005/00000001/Images/TSE/TSE%20Apr%2018%20web%281%29.pdf
• Russian National Charged with Ransomware Attacks Against Critical Infrastructure. (n.d.). Retrieved April 10, 2024, from https://www.justice.gov/opa/pr/russian-national-charged-ransomware-attacks-against-critical-infrastructure