Ransomware attack on Australia Car Auction Company

    Manheim Auctions, a car auction company operating in Australia was recently targeted by a Ransomware Cyber Attack and news is out that the hackers are demanding $30 million as a ransom to free up the database from the file-encrypting malware.

     

    Reports are in that the cyber incident took place on February 14th, 2020 and investigation is going on to know the extent of the impact.

     

    Generally, Western Australian’s Consumer Protection agency is discouraging the targeted company from paying a ransom as it not only encourages crime but also doesn’t guaranty a data-back assurance from those spreading the ransomware after the demanded ransom is paid.

     

    The Facebook page of Manheim says that the website access has been restricted as it had to shut down some computer systems.

     

    A statement released by the company yesterday says that no sensitive info was compromised in the incident and the company doesn’t intend to bow down to the demands of hackers.

     

    A team of IT experts from the United States branch has been asked to restore the services and the authorities are intending to create a new website.

     

    Note 1- Manheim, Inc is a wholesale auto-auctioning firm which has its trade locations across North America, Europe, Asia, and Australia. The company offers a traditional process and online format for all kinds of automobile sales which includes financing, title change, transportation, disputes, recovery, auto body repair, dent repairs, reconditioning of vehicles, re-marketing and dealership management.

     

    Note 2- Generally, ransomware spreading hackers are seen targeting manufacturing industries the most. But with this latest attack incident on Manheim, it is clear that they just target digitally vulnerable companies.

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    Naveen Goud
    Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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