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.
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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.
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Generally, Western Australianās Consumer Protection agency is discouraging the targeted company from paying a ransom as it not only encourages crime but also doesnāt guaranty a data-back assurance from those spreading the ransomware after the demanded ransom is paid.
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The Facebook page of Manheim says that the website access has been restricted as it had to shut down some computer systems.
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A statement released by the company yesterday says that no sensitive info was compromised in the incident and the company doesnāt intend to bow down to the demands of hackers.
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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.
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Note 1-Ā 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.
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Note 2-Ā Generally,Ā 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.