alphv attacks Matco Electric

Incident Date: Jun 22, 2022

Attack Overview
VICTIM
Matco Electric
INDUSTRY
Construction
LOCATION
USA
ATTACKER
Alphv
FIRST REPORTED
June 22, 2022

Matco Electric Corporation: A Full-Service Electrical Technologies Firm Targeted by Ransomware Group Alphv

Matco Electric Corporation, a full-service electrical technologies firm with over 50 years of experience, has been targeted by the ransomware group Alphv. The company operates in the construction sector and is known for its dedication to service after the project is complete, offering 24/7 emergency services.

Matco Electric Corporation is a subsidiary of the Vontier Corporation, a global industrial technology company that is publicly traded on the NYSE under the ticker symbol “VNT”. The company employs over 637 people and generates approximately $139 million in annual revenue.

The ransomware attack on Matco Electric Corporation is part of a broader trend of cyber threats targeting critical infrastructure companies. In 2023, data from SecurityScorecard found that 90% of the world's biggest energy companies had suffered a supply chain data breach in the past 12 months.

The Alphv ransomware group has been increasingly active in recent months, using well-known tooling and methods to gain access to victim networks. The group has been linked to a number of high-profile attacks, including one on Schneider Electric, a major energy firm.

The attack on Matco Electric Corporation highlights the need for companies in the construction sector to prioritize cybersecurity measures to protect against ransomware attacks. Despite the challenges posed by the evolving threat landscape, companies can take steps to mitigate the risks, such as implementing robust security protocols, conducting regular vulnerability assessments, and investing in cybersecurity training for employees.

Sources

Disclaimer

The Halcyon Attacks Lookout Database is compiled using publicly available information based on the hosting choices of real-world threat actors and data from a variety of trackers. This information is provided in accordance with principles of fair use. Halcyon has made reasonable efforts to sanitize and verify the data; however, we do not guarantee the accuracy, completeness, or reliability of the information provided. Updates to the database are made as new source data becomes available from reputable sources.  By accessing, viewing, or using the information within the Halcyon Attacks Lookout Database, you acknowledge and agree to do so entirely at your own risk. No reliance should be placed upon the information for decision-making, and Halcyon disclaims all liability for any inaccuracies or omissions in the data.

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