Thursday, July 18, 2024

Grazie Ragazzi – But It’s Not Ferrari Who’s Saying It This Time!

Ferrari’s woes seem to be continuing from F1 tracks to their data. And surprisingly, ransomware today encrypts files as fast as a Ferrari V8 goes from 0 to 60 mph.

The current ransomware attack means cybercriminals now have access to confidential client data. Remarkably, this isn’t the first time Ferrari has been the victim of a ransomware attack; in October of last year, critical documents belonging to the brand were leaked online.

A total of 6.99GB of internal data was made public by a ransomware gang, RansomEXX, on its Tor leak site, which included critical documents, datasheets, and repair manuals, amongst other items.

And with the issue at hand, cybercriminals were successful in infiltrating the IT system of the luxury sports car maker, then asked for a ransom in return for the data after encrypting it. Ferrari, though, has put on a brave face and decided not to pay the ransom. Instead, it issued the following letter to its customers.

Despite the communique stating no payment information was compromised, what was compromised was Ferrari’s reputation—a company that has been seen as a symbol of luxury, pride, and exclusivity. In hindsight, this incident paints a worrisome picture of Ferrari’s data security, especially with this being the second attack within 6 months.

A recent survey reveals that 80% of enterprises that have experienced a ransomware attack are bound to experience it multiple times. Ferrari is a glaring example. This incident showcases the need for cybersecurity for all businesses, regardless of industry or size. Even companies as prestigious as Ferrari are not immune to cyber threats and must take proactive steps to protect themselves against cyber attacks.

With Endpoint Central, you can prevent cyberattacks by leveraging its ransomware protection capabilities – a mu. lit-patented reactive solution. Besides providing ransomware detection and mitigation, the module allows seamless recovery of the infected files.

Here is an overview of the ransomware protection capabilities

  • Detection of suspicious file activity by leveraging behavior analysis and patented technology assisted by machine learning.
  • Restoration of files upon a single click.
  • Endpoint security 24×7, even when not connected to the internet. 
  • Zero definition updates, hence no downtime.
  • Detection accuracy by leveraging patented technology leads to fewer false positives.
  • Instant alerts on ransomware detection.

Various security solutions, including data loss protection, application control, peripheral device control, browser security, and vulnerability management.

Try Endpoint Central now, free for 30 days, or schedule a demo with our product experts to see it in action.


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BALAJI is an Ex-Security Researcher (Threat Research Labs) at Comodo Cybersecurity. Editor-in-Chief & Co-Founder - Cyber Security News & GBHackers On Security.

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