The major Tesla competitor, NIO, has revealed that it faced a major Bitcoin ransomware attack. The Chinese electric vehicle manufacturer has disclosed a data breach that led to the third-party sale of confidential customer information.
The attack took place yesterday and followed a public statement by the company. Moreover, the company has set up a dedicated hotline and email address to answer consumer inquiries about the breach. Within the statement, NIO took full responsibility for what occurred in the attack.
Tesla Competitor Falls Victim to Data Breach
The Chinese-based Tesla competitor, NIO, has reportedly fallen victim to a massive Bitcoin ransomware attack. The perpetrator accessed confidential customer and sales information before August 2021. Additionally, U.Today reported on the attackers demanding $2.25 million worth of Bitcoin in return for not leaking the data.
The public statement released by NIO maintained access to customer service assistance related to the attack. Furthermore, they will take responsibility for any customer losses that occur because of it. The statement concluded by noting the company is working alongside governmental authorities to contain the damage and investigate its occurrence.
The attack on NIO occurred at a very concerning time in the economic landscape of the country. The Chinese government has placed more emphasis on businesses improving the measures of protection they have in place to combat events like this.
Ransomware is a very present danger for a lot of major corporations. It is dangerous software that takes control of a computer and revokes access until ransom payments are made. Furthermore, the software uses encryption to deem vital files unusable, often asking for high costs to regain access. Bitcoin has become a popular method of payment in answering ransomware attacks