Just when Italian carmaker Ferrari thought it had recovered from the previous ransomware attack that crippled its operations, it has now become the target of another cyberattack. The luxury car manufacturer has recently disclosed a data breach and confirmed that it resulted from a demand for ransom made by a group of malicious actors.
Post the Ferrari Data Breach, the luxury sports car maker revealed that the hackers accessed some of the company’s IT systems. The hackers could also access a limited number of systems in their IT environment. As a result of the cyberattack, customer information was exposed, including names, addresses, email addresses, and telephone numbers.
Ferrari data breach, ransom, and response
Ferrari data breach puts the Italian sports car manufacturer at a potential risk. However, the company has responded swiftly to the threat actor. They immediately began an investigation in collaboration with a leading global third-party cybersecurity firm and informed the relevant authorities.
To keep its customers in the loop, the corporation has taken a proactive step by informing them of the possible data breach and the specifics of the occurrence. By doing so, they have demonstrated a willingness to be transparent and accountable for any potential fallout resulting from the incident.
In their statement, Ferrari clarified that they would not be held to ransom as paying such demands funds criminal activity and enables threat actors to perpetuate their attacks. Instead, the company believed informing its clients was the best action.
The recent data breach comes just a year after a ransomware attack severely impacted Ferrari’s operations. The company has been working to improve its cybersecurity defenses to prevent such incidents from occurring in the future.
Ferrari data breach is a stark reminder of better cybersecurity needs
Ferrari takes the confidentiality of our clients very seriously and understands the significance of this incident. We have worked with third-party experts to reinforce our systems further and are confident in their resilience. We can also confirm the breach has had no impact on the operational functions of our company,” said the company in a statement.
This particular attack highlights the ongoing threat of cybercrime and the need for companies to prioritize their cybersecurity efforts. With the rise of remote work and an increased reliance on digital technologies, businesses are becoming more vulnerable to cyberattacks. Organizations must invest in robust cybersecurity measures and develop a comprehensive response plan to mitigate the impact of any potential breaches.
The Ferrari data breach underscores the need for companies to remain vigilant and proactive in their cybersecurity efforts. By prioritizing cybersecurity and implementing effective defense strategies, businesses can protect themselves from the ever-increasing threat of cybercrime.
Ferrari Data Breach and the sea of embarrassments
The last data breach was an embarrassing one for Ferrari, as it happened a week after last week, its managing director and team principal, who was promoting the company’s culture of security, claimed that the company was very secure. Just ahead of the attack, the Ferrari Racing Division had announced partnership with cybersecurity firm Bitdefender.
“We are pleased to embark on this new partnership with Bitdefender, with whom we share values such as the highest level of technological efficiency, striving for excellence in performance and a culture of security,” said Mattia Binotto, Team Principal and Managing Director, Scuderia Ferrari had said about the partnership.
Acknowledging the security incident, Bitdefender told The Cyber Express, “Bitdefender was not involved in this incident. Although Bitdefender became an official Team Partner of Scuderia Ferrari, the company’s Formula One racing team last year, at this point in the partnership, Ferrari is not yet using any Bitdefender cybersecurity products or services in its operations. However, we have reached out and offered Ferrari our assistance and full support if needed.
But that is not it all, in May last year, Ferrari had signed a deal with a blockchain company based in Switzerland called Velas Network to create non-fungible digital tokens (NFTs) for its fans. Soon after that, the company’s website was hijacked and used to host a scam regarding NFTs before it was taken down.