Genus plc Suffers Ransomware Attack by Lockbit3

Company Overview

Genus plc is a global organization that provides farmers with superior genetics, contributing to the fulfillment of its vision of nourishing the world more sustainably. The company operates in various sectors, including agriculture, food, and technology, and has a presence in multiple regions worldwide.

Vulnerabilities and Mitigation

In their 2022 annual report, Genus plc acknowledged the risk of cybersecurity incidents, including ransomware attacks, and the potential impact on their systems and operations. The company has implemented measures to improve system controls and monitoring activities to detect and prevent future security incidents.

Impact of the Attack

The ransomware attack on Genus plc had a limited impact on their systems, with minimal disruption to entities operating on GenusOne. However, certain local systems were affected, causing short-term operational disruptions, particularly in Latin America. The company successfully restored all systems and files prior to the June month-end without paying a ransom.

The ransomware attack on Genus plc by Lockbit3 highlights the ongoing threat of cybercrime in the digital age. Despite the company's efforts to improve their cybersecurity posture, they were still targeted by the attackers. This incident serves as a reminder for organizations to remain vigilant and proactive in protecting their digital assets.

Sources

• "Genus plc Annual Report 2022" - https://www.genusplc.com/investors/reports-presentations/