👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Boeing's spare parts platform succumbs to cyberattack

EditorPollock Mondal
Published 11/03/2023, 02:40 AM
© Reuters
BA
-

Boeing (NYSE:BA) Co.'s official trading platform for spare aircraft parts and software was hit by a cyberattack, leading to a system shutdown. The aerospace company responded to the attack by deactivating its supplies webpage, a move that mirrors a tactic used by MGM Resorts (NYSE:MGM) International in a comparable situation.

The cyberattack was reportedly carried out by Lockbit, a criminal gang linked to Russia. The group had issued a ransom demand, threatening to expose sensitive data if their demands were not met by November 2nd. However, the sudden removal of Boeing's name from Lockbit's website has led to speculation about the incident's resolution.

Despite this cyber incident, Boeing sustained manual operations and communicated updates via conference calls with customers. It remains unclear whether the website's downtime was a direct result of hacker activity or if it was a proactive measure taken by Boeing in anticipation of potential cyber threats.

Boeing confirmed that its parts and distribution business were impacted by the cyberattack but assured that flight safety remained unaffected. The ambiguity persists over whether hackers forced the shutdown or if it was a preemptive move by Boeing in light of potential cyber threats. As the situation unfolded, Boeing refrained from making any immediate comments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.