No—not according to FedEx’s later recovery report. In its fiscal 2017 filing, FedEx warned that TNT Express might be unable to recover all critical business data encrypted by the 2017 Petya virus. Its fiscal 2018 filing later said critical business data had been recovered by the second quarter of fiscal 2018. The earlier statement described uncertainty during recovery, not a final finding of permanent loss.
What happened to FedEx and TNT Express?
On June 28, 2017, FedEx announced that the worldwide operations of its TNT Express subsidiary had been significantly affected by an information-system virus. TNT operations and communications were disrupted; FedEx said its other companies were operating normally and that no data breach was known at the time. FedEx’s June 2017 announcement
FedEx’s fiscal 2017 Form 10-K described the malware as spreading through a Ukrainian tax-software product before infiltrating TNT systems and encrypting data. The filing’s warning was specific: “it is reasonably possible that TNT Express will be unable to fully restore all of the affected systems and recover all of the critical business data that was encrypted by the virus.” FedEx fiscal 2017 Form 10-K
That warning is the basis for the claim that FedEx may have permanently lost data. It expressed a risk while recovery was ongoing; it did not establish that data had in fact been lost permanently.
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What did FedEx later say about recovery?
FedEx’s fiscal 2018 Form 10-K reported that substantially all TNT Express services were fully restored during the first quarter of fiscal 2018. By the second quarter of fiscal 2018, the company said all critical operational systems had been restored and critical business data had been recovered. FedEx fiscal 2018 Form 10-K
In a June 30, 2017 update, FedEx had said teams were bringing business-critical systems back online and that no data breach or loss was known to have occurred. FedEx’s June 30, 2017 update
Was this a data breach across FedEx?
The documented disruption affected TNT Express, a FedEx subsidiary, rather than all FedEx companies. FedEx’s contemporaneous statements said it knew of no data breach or third-party data loss. Those statements describe what the company knew and reported at the time; they should not be expanded into a claim that no information was ever exposed under any definition.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How much did the incident cost FedEx?
FedEx estimated the NotPetya impact at approximately $100 million in the second quarter of fiscal 2018 and approximately $400 million in the first half of fiscal 2018. These are company estimates reported in an SEC filing, not an independent incident-loss audit. FedEx attributed the impact primarily to lower shipment volume in the TNT network and incremental costs to restore information-technology systems. FedEx filing on the estimated impact
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