Boggi Milano, one of the most famous Italian menswear companies, was hit by a ransomware attack on March 31, according to sources close to the company and Bloomberg.
Boggi Milano was founded in 1939 and is today one of the most well-known premium Italian brands. The company operates approximately 200 stores in 38 countries.
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The company confirmed that it was the victim of a cyberattack and that it is currently investigating the security incident. In addition, a Boggi Milano spokesperson said that the company does not believe the attack had a significant impact. He added that the company is cooperating with law enforcement authorities to investigate the case.
As Bloomberg reports, a hacking group known as “Ragnarok” said in a darknet blog that it targeted Boggi Milano servers. It added that it stole about 40 gigabytes of data from the Italian brand, including files with information about the company’s employees, such as payroll data. People familiar with the case confirmed that it was a ransomware attack, in which an estimated 40 gigabytes of data were stolen.
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As is known, ransomware is a type of malware that can “lock” a device or encrypt its contents in order to demand money as a ransom from its owner. In exchange, the creators of the malware promise – but without any guarantee – to restore access to the “infected” machine or the affected data. Companies that are subject to a ransomware attack are asked to pay the ransom in cryptocurrency or find some other way to restore their files and rebuild their IT networks.
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Notably, the FBI estimates that at least $144.35 million (€123 million) in Bitcoin has been paid from 2013 to 2019 as ransom to ransomware gangs.
