Forward Air Corporation Recently Disclosed Data Theft Following a Ransomware Attack

The Tennessee-based company Forward Air has revealed a data breach following a ransomware incident that occurred last year. During the attack, cybercriminals managed to access and steal confidential information belonging to the organization’s employees.

A Quick Look into the Forward Air Ransomware Attack

The ransomware attack was made public on December 15th, 2020 and, even though the organization never said anything about the incident, it is believed to have been orchestrated by the Hades ransomware gang.

According to a filling, the attack impacted Forward Air’s operational and information technology systems, forcing it to shut down. As a consequence, the company experienced disruption and was unable to release cargo for transportation. 

The same filing says that Forward Air lost an estimated $7.5 million of LTL revenue as a result of the incident “primarily because of the Company’s need to temporarily suspend its electronic data interfaces with its customers”.

According to BleepingComputer, cybersecurity specialists came to the conclusion that the group behind the Forward Air attack was indeed the Evil Corp (aka the Dridex gang or INDRIK SPIDER).

The cybercrime gang conducts attacks under the Hades ransomware name to dodge sanctions applied by the Treasury Department’s Office of Foreign Assets Control (OFAC).

Read More: https://heimdalsecurity.com/blog/forward-air-corporation-recently-disclosed-data-theft-following-a-ransomware-attack/