15K Car Dealerships Shutdown By Ransomware

A software company called CDK was hacked, causing 15,000 car dealerships across North America to be crippled. The dealerships relied on CDK's software for various operations, including car sales and maintenance. Some dealerships had to resort to pen and paper, while others were unable to perform any tasks. The attack had a significant impact on the auto industry, which made $1.2 trillion in US sales last year. CDK may be considering paying tens of millions of dollars in ransom to get their systems back online. The attack highlights the vulnerability of relying on a single software system and the importance of cybersecurity.

Article: Software company plans to pay tens of millions in ransom to hackers who crippled car dealerships across North America
https://fortune.com/2024/06/22/cdk-ransomware-attack-payment-hackers-tens-millions-car-dealerships/?fbclid=IwZXh0bgNhZW0CMTAAAR0_fKavbGHuRkY00NWXOFTjWJS9wQOmOvLEr2LnRVcpdnHLSWKFkDMKx_w_aem_5kYVNN1IGftjtBwEY55iwA

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Chapters

00:00 Introduction
02:32 Impact on the automotive industry
06:33 Lack of pen and paper skills
09:50 Likelihood of future attacks
14:07 Impact on end-of-quarter reporting
15:20 Conclusion and call to action

#cybersecurity #cdk #ransomware