TechCrunch quotes CybelAngel on Volvo Data Breach

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Avatar Shane Walsh

This article was originally written by Kirsten Korosec and published on TechCrunch.com

Volvo Cars is investigating a cybersecurity breach and theft of a limited amount of the company’s research and development data. The data breach was reported Friday by the Swedish automaker.

The company said one of its file repositories had been illegally accessed by a third party. Investigations have revealed that a “limited amount of the company’s R&D property has been stolen during the intrusion,” the company said in a statement Friday.

A report released in fall 2021 by digital risk protection company CybelAngel found that the automotive industry is at severe risk of ransomware attacks due to the availability of hundreds of thousands of exposed credentials online.

The company’s six-month investigation of automotive companies found that highly sensitive information was leaked, including trade secrets, personally identifiable information, blueprints of engines and production facilities, confidential agreements, human resources documents, and more. The company concluded that these leaks occurred due to employee internal threats and external security weaknesses across the automotive supply chain.

CybelAngel digital risk protection solutions help protect your company’s brand, customers, and employees by proactively locating publicly exposed confidential digital assets before they fall into the wrong hands. See how CybelAngel can protect your company here

Read the original article here.

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