Logistics and freight-forwarding giant Expeditors International was hit by a cyberattack that impacted their operating systems.
- Expeditors International shuts down most of its operating systems.
- Expeditors are working with cyber security to contain the situation.
Logistics and freight-forwarding giant Expeditors International was hit by a cyberattack that impacted their operating systems.
Expeditors company has over 18,000 employees worldwide and has a revenue of around $10 billion.
“Expeditors International of Washington, Inc. (NASDAQ: EXPD) announced that on February 20, 2022, we determined that our company was the subject of a targeted cyber-attack,” reads the announcement published by the company.
The company stated that they are working with global cybersecurity experts to manage the situations, and as their systems are shut down, they have limited ability to conduct operations.
The information available publicly suggests that the company was a victim of a ransomware attack and was forced to shut down its network to avoid the threat from spreading.
The attack impacted the company’s operations, including the capability to arrange for freight shipments or manage customs and distribution activities of customer shipments.
The company warned that the incident could have a material adverse impact on the business, revenues, operation results, and reputation.
“We are incurring expenses relating to the cyber-attack to investigate and remediate this matter and expect to continue to incur expenses of this nature in the future,” concludes the advisory.
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