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Norsk Hydro suffered colossal losses in recent cyber attacks

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AIG, a global insurer, spoke about this at a press conference. Also, the American manufacturers of resins, silicones and other materials Hexion and Momentive were targeted by hackers.

Norsk Hydro suffered colossal losses in recent cyber attacks

On Tuesday, it was reported that the Norwegian aluminum producer Norsk Hydro lost more than $ 40 million in the week following a cyber ransomware attack that paralyzed part of the company's operations.

According to the global insurer AIG, according to preliminary estimates, the corporation's costs are still estimated at 350 million NOK.

Norsk Hydro did not disclose how much it intends to receive from AIG through its insurance. While Hydro's core metal mining business has continued to produce aluminum, one of the company's core divisions is still struggling to recover.

According to Hydro, Extruded Solutions branch suffered the most. Now its capacities are functioning at 70-80 percent. The exception is its Building Systems division, where activity has practically ceased.

The company said it will not pay hackers to unlock its files, but intends to restore them using backup servers.

Two major US chemical companies have also been affected by LockerGoga ransomware. Hexion and Momentive were forced to seek help from armed SWAT special forces after being cyberattacked. According to an internal email signed by Momentive CEO Jack Boss, the incident triggered a "global disruption to IT systems."

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