US software house CDK Global is reported to have paid out a $25 million ransom to hackers following a devastating June 19 cyber attack which likely cost its US dealership clients $600m in direct losses.
CDK’s software supports nearly 15,000 dealerships in North America by managing vehicle acquisitions, sales, financing, insurance, repairs, and maintenance.
Keyloop, the UK’s dominant DMS provider, will not be a part of CDK Global. CDK sold off its international business, which rebranded as Keyloop in 2021.
CDK initially described the incident as a “cyber incident” in media statements although reportedly referred to it as a “cyber ransom event” with clients.
Based on CNN, around 387 bitcoins value around $25m were transferred on June 21 to a cryptocurrency account controlled by hackers related to a ransomware called BlackSuit, detected on the idea of tracked blockchain data that records cryptocurrency transactions.
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