Ferrari surprises hackers by refusing to pay ransom for customer data

Ferrari, the renowned Italian car manufacturer, has been targeted by cybercriminals who are demanding a ransom in exchange for access to certain client contact information. 

Despite the attacker’s demands, Ferrari has made the bold decision not to finance criminal activity by refusing to pay the ransom. Instead, the company has chosen to inform its clients of the potential data exposure and has taken the matter seriously by initiating an investigation with a leading global cybersecurity firm.

This breach has significant implications, as the sensitive information of Ferrari’s wealthy clients, including names, addresses, email addresses, and telephone numbers, could potentially be exposed. Cybersecurity experts have warned that this is not just a ransomware issue, but a data loss problem as well. Even if the ransom is paid, the attackers still have access to the data and may choose to sell or expose it, or even demand more money.

Jon Miller, CEO & Co-founder of cybersecurity firm Halcyon, emphasises that the only way to make ransom attacks unprofitable is to defeat the attack before the data is exfiltrated and operations are disrupted. 

Despite the breach, Ferrari has reported that its operations have not been impacted, and all of its luxury sports cars are still manufactured exclusively at its Maranello factory. In 2022, over 13 thousand new Ferraris were produced and sold, demonstrating the company’s resilience in the face of cybercrime.