Philippine JG Summit Holdings Inc. supposedly hit by ransomware, data breached

JG Summit Holdings Inc., a major Philippine conglomerate, has initiated an investigation into a potential data breach following reports of a ransomware attack allegedly orchestrated by the cybercriminal group RansomHub.

The company has diverse investments across sectors including real estate, airlines, food manufacturing, and petrochemicals. They have acknowledged the reports and emphasized that they are working closely with cybersecurity experts to assess and address the situation.

The attack, reported by cybersecurity firm Deep Web Konek, may have compromised approximately 300 gigabytes of data from JG Summit, with the ransomware impacting over 40,000 computers within the conglomerate's network. RansomHub has issued a ransom demand, giving JG Summit seven days to comply, and has warned that failure to meet their demands could result in the permanent deletion of the compromised data, making recovery impossible.

JG Summit has not disclosed the specific data types exposed in the breach, or the number of affected individuals.

JG Summit has assured that its business units are continuing normal operations. The company has activated its response protocols and strengthened its security measures in response to the threat, emphasizing that safeguarding data and maintaining stakeholder trust are top priorities.