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A ransomware attack pushed the German napkin firm Fasana into insolvency
- A ransomware attack has pushed the German napkin firm Fasana into insolvency, exacerbating its financial troubles.
- The cyberattack occurred on May 19, shutting down Fasana's systems and causing a halt in orders worth over €250K the next day.
- Fasana, located in Stotzheim, Germany, with 240 employees, had to cease production and postpone May salaries.
- The company estimates a €2 million loss within two weeks of the cyberattack and is now seeking a new buyer after being acquired in March.
- The attack rendered Fasana incapable of printing delivery notes, leading to a complete paralysis of business operations.
- The insolvency administrator Maike Krebber highlighted the severe consequences of the cyberattack on Fasana and its employees.
- The ransomware attack by an unidentified group encrypted files and locked Fasana's systems, but no gang has claimed responsibility.
- Although the hackers sought financial gain, the exact method of their entry remains unclear.
- Operations have resumed, and deliveries and invoicing restarted the prior week.
- Reportedly, a known police-monitored group was involved in sending ransomware to Fasana's systems.
- The malware circulated rapidly, locking data until a ransom was paid, with printers displaying extortion messages during the attack.
- No ransomware group has officially admitted to the cyberattack as of now.
- Fasana is under pressure to find a buyer within eight weeks as it looks to recover from the insolvency caused by the ransomware attack.
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