Stelco Pwned By Criminal Hackers

Stelco Holdings Inc., a low-cost, integrated and independent steelmaker and 100% owner of the operating company Stelco Inc., announced that it was subject to a criminal attack on its information systems.

The attack against Stelco proves as evidence on how back-up and recovery plans must be established, so that systems and operations can continue without damage to the business. It is essential to increase cyber resilience, with AI advancing as a defense to catch threats on the inside, before they endanger data or operations. Visibility and understanding of the network are key factors to preventing operational shut down.

David Masson, Director of Enterprise Security for Darktrace had this to say:

“This breach is yet another reminder of why using AI defenses to catch threats inside of an organization, before they endanger data or operations, is essential to increase the cyber resilience of an organization. A company in any industry can fall victim to an attack. In the case of the criminal attack on the information systems of Stelco, the suspension of business operations suggests this may have been a ransomware attack that could have affected their Industrial Control Systems (ICS).

In today’s landscape, cyber-attacks are increasingly prevalent, including ransomware, due to the speed in which they attack. The use of AI to gain proper visibility and understanding of your network is key to preventing fast-acting attacks that risk operational shut down.”

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