Automotive Retailer Pendragon Refuses to Pay $60 Million Ransom | Ways Tech



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The LockBit ransomware allegedly breached the Pendragon Group, a UK-based automobile dealership group with over 200 places, demanding $60 million in change for decrypting information and promising to not publish them.

Pendragon PLC is among the world’s most profitable vehicle retailers, proudly owning automotive logos comparable to Evans Halshaw, Stratstone, CarStore, Pinewood, Quickco and Pendragon Automobile Administration. These franchises promote automobiles for a wide range of manufacturers and for budgets starting from luxurious like Aston Martin, Ferrari, Jaguar, Mercedes-Benz, MINI and Porsche to extra inexpensive like Citroen, Dacia, DAF, DS, Ford, Hyundai. , Kia, Nissan, Peugeot or Renault.

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Pendragon confirmed the safety incident in an official assertion, however kept away from giving additional particulars that will not have an effect on its operations.

We’ve got recognized suspicious exercise in a few of our IT techniques and have confirmed that we skilled an IT safety incident. This has not affected our skill to function and we proceed to serve our prospects and communities as regular.

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LockBit ransomware group behind the assault

Nonetheless, as Bleeping Laptop defined, on 21St. In an October interview for The Occasions, the corporate’s chief advertising and marketing officer, Kim Costello, talked about that the assault was carried out by the LockBit ransomware group a month in the past.

Costello says the company contacted the hackers and acquired stolen information as proof of the incident, however didn’t negotiate. He additionally added that the hackers demanded “tens of hundreds of thousands of {dollars} earlier than the deadline” or risked disclosing the stolen info. In response to the British newspaper, LockBit demanded a $60 million ransom.

As acknowledged by the corporate’s spokesman, Pendragon will not be going to again down on its resolution to not pay the attackers. The corporate additionally reported the assault to legislation enforcement and the UK knowledge safety authority. The consultant additionally added that Pendragon’s IT staff responded shortly to the incident and hackers stole solely 5% of the database.

Bleeping Laptop additionally notes that LockBit’s assault on Pendragon coincides with a £400 million takeover bid for Swedish motor firm Hedin Group.

If you wish to be taught extra about learn how to forestall a ransomware assault, you’ll be able to learn my colleague Dora’s article on this matter, accessible right here.

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Automotive Retailer Pendragon Refuses to Pay $60 Million Ransom