Hacker attack forces recycling companies EU-Rec in bankruptcy-what now?

Hacker attack forces recycling companies EU-Rec in bankruptcy-what now?

Hermeskeil, Rheinland-Pfalz, Deutschland - The EU-Rec GmbH, a recycling company based in Hermeskeil, Rhineland-Palatinate, has filed for bankruptcy. The reason for this dramatic step is a heavy hacker attack, which significantly damaged the digital infrastructure of the company and disrupted the operating processes considerably. For over 30 years, EU REC has been involved in the environmentally friendly recycling of valuable materials and recently employed more than 50 employees, such as t-online.de reported. The bankruptcy application was submitted to the district court of Trier. Despite the difficult situation, the management is optimistic and plans to develop a sustainable solution together with the provisional insolvency administrator, lawyer Ingo Grünewald.

Even before the hacker attack, EU-Rec GmbH was in a tense economic situation. The company additionally burdened high energy prices and fluctuating order inputs. The decision to submit the application for bankruptcy was not easy for the Kreit family, which the company heads, is seen as a way to check and optimize the corporate structures. Employees are informed about the situation and their wages are secured by the bankruptcy money, which highlights merkur.de Despite the bankruptcy, the business company of EU-REC GmbH is to be continued in full, because the managers are convinced that the business model has potential in the area of ​​the sustainable circular economy.

cyber attacks and their consequences

The incident is part of a worrying development: cyber attacks on German companies are increasing. A current study shows that 53 percent of the companies concerned were victims of phishing and 42 percent attacks on their cloud services. Attacks on mail servers and web servers are also common. The data published in the

The damage caused by such cyber attacks can be threatening to exist for companies. Data leaks and the theft of sensitive information represent significant risks. The most common goals are customer data, banking and financial data as well as personnel data. These developments hide the challenges in front of which modern companies are facing and highlights the need to strengthen digital security.