Volvo Hit by Cyber-thieves

Cyber-burglars hacked into the pc network of Swedish automobile manufacturer Volvo and exfiltrated exploration and advancement secrets and techniques.

The carmaker posted a notice on its web-site yesterday stating that it experienced suffered a cybersecurity breach in which a constrained total of info was stolen. 

Nevertheless the quantity of facts swiped in the incident was modest, Volvo warned that its loss may perhaps have an effects on the company’s functions. 

Volvo did not disclose the day on which the attack took put, how lengthy it lasted, or when it was detected. The organization shared only sparse data pertaining to the character of the attack, describing it as involving a breach of just one of its file repositories by a 3rd party. 

In a assertion produced Friday, the carmaker explained: “Volvo Cars and trucks has develop into mindful that one particular of its file repositories has been illegally accessed by a third party. 

“Investigations so considerably validate that a minimal amount of money of the company’s R&D assets has been stolen throughout the intrusion. Volvo Cars and trucks has before currently concluded, based mostly on information out there, that there might be an effect on the company’s procedure.”

Exterior cybersecurity specialists have been hired to investigate the attack, and the applicable authorities in Sweden have been notified of the incident. 

Even though the investigation into the incident is ongoing, Volvo said that no evidence had been uncovered however to suggest that any particular data belonging to its prospects had been stolen or accessed. 

“Volvo Cars is conducting its personal investigation and functioning with third-party specialists to examine the house theft,” mentioned the carmaker.

“The business does not see, with at present accessible info, that this has an impression on the basic safety or security of its customers’ autos or their private data.”

Volvo was established in 1927 and is headquartered in Gothenburg, Sweden. The carmaker has several production plants scattered all-around the planet, together with at sites in the United States and the People’s Republic of China.

Volvo’s 3 research and improvement (R&D) and structure facilities are located in Gothenburg, in Camarillo, California, and in Shanghai, China. The firm has not however shared which of its sites was impacted by the cyber-attack.

Some parts of this report are sourced from:
www.infosecurity-journal.com