Ransomware Attack on Agribazaar

Company Profile

Agribazaar, a mobile app-based marketplace for Agro commodities based in Mumbai, India, was targeted in a ransomware attack by the group DarkVault. The company was founded in 2016 and aims to empower India's small farmers with technology and data. Agribazaar operates in around 40 cities, has 800+ warehouses across 16 states, and serves in the B2C, B2B space in the Retail, Food, and Agriculture Tech market segments.

Company Size and Revenue

As of March 31, 2022, Agribazaar had an annual revenue of $3.38 million and 145 employees as of February 29, 2024. The company has not raised any funding rounds yet and has no institutional or angel investors.

Industry Standing

The company stands out in their industry for its innovative solutions that allow farmers to trade their agricultural produce on its online platform. The company's online trading platform and market linkages have been successful, especially during the COVID-19 pandemic, enabling farmers to get fair prices for their produce. Agribazaar has introduced the concept of 'Agri-micropreneurs' and plans to expand its model to include farmers of cash crops like cardamom, pepper, and coffee.

Attack and Vulnerabilities

Agribazaar, an Indian website, was targeted by DarkVault, a cybercrime entity, using ransomware. Around 0.686 GB of data was exfiltrated, and despite no ransom demand being specified, the data was fully published after the ransom deadline of March 27, 2024.

The company's online presence and digital platform could have made it a target for threat actors like DarkVault. The company's extensive operations and data on farmers, agribusinesses, and traders of agricultural commodities could be at risk in a cyberattack.

Sources:

Agribazaar Website
Tracxn - Agribazaar
RocketReach - Agribazaar
Craft - Agribazaar
The Case Centre - Agribazaar
WatchGuard - DarkVault