American logistics and freight forwarding company Expeditors International was hit by a cyberattack over the weekend that paralyzed most of its operations worldwide.
Expeditors company has over 18,000 employees worldwide and has annual gross revenue of around $10 billion. The company discovered the attack on February 20, 2022, it doesn’t provide details about the attack and announced to have launched an investigation into the incident.
The information publicly available on the attack suggests the company was the victim of a ransomware attack and was forced to shut down its network to avoid the threat from spreading.
The attack impacted the company’s operations, including the capability to arrange for shipments of freight or managing customs and distribution activities for our customers’ shipments.
The company hired cybersecurity experts to investigate the security breach and recover from the attack.
The company warned the incident could have a material adverse impact on our business, revenues, results of operations and reputation.
