Hyundai Motor Europe: Victim of the Black Basta ransomware gang?

Hyundai Motor Europe has been hit by a cyberattack by the operators of the Black Basta ransomware. The hackers claim to have stolen a large amount of corporate data (three terabytes).

Hyundai Motor Europe is the European division of Hyundai Motor Company, headquartered in Germany.

According to BleepingComputer, rumors of a cyberattack had been circulating since early January, but Hyundai had not acknowledged the incident at the time, saying only that it was experiencing some IT issues.

However, after more information about theft , Hyundai confirmed to BleepingComputer that it had been attacked.

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“Hyundai Motor Europe is investigating a case in which an unauthorized third party has access to a limited part of network its,” Hyundai Motor Europe told BleepingComputer.

“Our investigations are ongoing and we are working closely with external cybersecurity experts and legal counsel. The relevant local authorities. Trust and security are fundamental to our business and our priority is the protection of our customers, employees, investors and partners.“.

The automaker did not specify the type of attack, but according to BleepingComputer, it was a ransomware attack by the Black Basta gang, which took place in early January. At the time, the hackers said they had stolen 3TB of data from Hyundai Motor Europe.

The attackers had also shared some lists of folders that were allegedly stolen from several Windows domains, including those from KIA Europe.

We do not know more information about the stolen data, but the folder names indicate that they are related to various departments of the company.

The ransomware attack on Hyundai Motor Europe had several consequences. Initially, it affected some systems and business functions. Let's not forget that in January the company had said that it was experiencing some IT problems. Therefore, it may have encountered difficulties in its operation, as some IT systems may have been disabled or operating at reduced performance.

See also: Ransomware 2023: Ransom payments hit $1.1 billion

Furthermore, a ransomware attack can have consequences for the trust of customers, employees and partners. If a company's ability to protect data is questioned, this can lead to lost business and increased costs to profitability.

Also, if the hackers'claims of data theft are true, Hyundai Motor Europe could face legal consequences. Depending on the nature of the data stolen, the company could be forced to face fines or face legal proceedings from regulators.

Finally, the attack could have long-term repercussions on Hyundai Motor Europe's corporate reputation . Recovering from such an attack could require significant efforts and investments in information security and public communications.

Black Basta ransomware

The Black Basta ransomware gang began operating in April 2022 and quickly became one of the biggest threats. In addition to encrypting files, it steals data and threatens to leak it if victims do not pay a ransom.

See also: Akira and 8Base the most "successful" ransomware gangs of 2023

Black Basta is believed to be an offshoot of the infamous Conti ransomware operation.

The group has carried out numerous attacks on major companies and organizations, including the Toronto Library, Capita, the American Dental Association, Sobeys, Knauf , and Yellow Pages Canada.

Protection measures

• Use of reliable and advanced antivirus software
• Create backups, especially for essential files
• Regularly update systems, applications and antivirus programs
• Training employees to recognize suspicious emails
• Using filters to automatically block suspicious emails 
• Use of firewalls and VPNs
• Network segmentation

Source: www.bleepingcomputer.com