GOKONGWEI-LED JG Summit Holdings Inc. (JG Summit Holdings) on Thursday said that it was investigating reports of a cyberattack directed against its systems.
GOKONGWEI-LED JG Summit Holdings Inc. on Thursday said that it was investigating reports of a cyberattack directed against its systems.Its various businesses were continuing to operate normally, the conglomerate said in a statement, but various cybersecurity protocols had been activated.
Updates will be provided at the soonest possible time, it added.'We are aware of circulating reports of a possible cybersecurity attack. Right now, we have activated all response protocols and implemented enhanced security measures to ensure data protection,' the company said.'We are now working closely with our cybersecurity experts and partners to proactively investigate and assess the situation. Our business units continue to have normal operations.'JG Summit said it was treating the matter seriously and assured stakeholders that cybersecurity remained a top priority.'We recognize that many organizations have faced similar challenges in the current cybersecurity landscape. And, therefore, protecting our data and maintaining the trust of our stakeholders remain our top priority,' it said.Several tech blogs claimed that JG Summit had fallen victim to a ransomware attack by RansomHub.The group was said to have encrypted data on more than 40,000 computers in JG Summit's network and lifted around 300 gigabytes of data.Demands were said to have been made, and RansomHub was said to have warned of further encryption, data shredding, and the use of secure delete functions to ensure that no recovery of data is possible.JG Summit Holdings is a conglomerate with substantial business interests in foods, agro-industrial and commodities real estate and hotel, air transportation, banking and petrochemicals.The company also has core investments in telecommunications and power generation and distribution as well.JG Summit shares were up 1.6 percent, or 4 centavos to P25.40 on Tuesday, outpacing a 0.22-percent gain for the benchmark Philippine Stock Exchange index.
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