Canyon Bicycles, a Germany company which supplies racing bikes to the world says that a cyberattack on its IT infrastructure has encrypted all its files from being accessed- which suggests that attack was of ransomware variant.
Founded in 2002 and based in Koblenz, the company says that it became a victim of a cyber attack just after New Year 2020 and made it official on January 6th of this month for reasons.
Canyon CEO Roman Arnold says that the incident was highly organized by a group of hackers hacking computers and the intention was to gain access to sensitive data and demand a ransom.
Canyon admitted that a majority of its software and servers were encrypted and were locked from access. But the retail website and the content on it was safe and unaffected as it was placed on a different server.
As the IT authorities of the company managed to contain the incident and stopped the malware from spreading, a major disruption was averted. However, except for the website of the United States, all other portals including the Koblenz site of Germany was affected. So, a delay in the order placement and delivery might be observed for the next few days said a source.
Koblenz Criminal Investigation Department and the State Criminal Investigation Department have started an investigation in identifying the culprits behind the malware spread.
Note- In the year 2015, Canyon started to expand its production facility by developing its IT infrastructure. But the company suffered a lot of glitches in the transitional phase which hit the reputation of the company badly, making customers look for other alternatives as the supply chain infrastructure of Canyon Sports Bikes failed to deliver goods on time.