On Monday, the sports and race car manufacturer declared a "cyber incident" on its website.
"Ferrari N.V. announces that its wholly-owned Italian subsidiary, Ferrari S.p.A., was recently contacted by a threat actor with a ransom demand related to certain client contact details," the company said in a statement.
The business has stated that it will not comply with the hacker's demands.
"As a policy, Ferrari will not be held to ransom because paying such demands funds criminal activity and allows threat actors to continue their attacks," the luxury brand stated. "Instead, we believed that informing our clients about the potential data exposure and the nature of the incident was the best course of action," Ferrari said.
Given that the average price of a Ferrari varies from more than $200,000 to more than $600,000, according to one of the brand's official dealers, clients are most likely a who's who of the world's wealthiest. Based in Maranello, Italy, it appears the automaker was unaware of the breach until approached by the hacker.
"We immediately began an investigation in collaboration with a leading global third-party cybersecurity firm upon receipt of the ransom demand," Ferrari said. The luxury power brand stated that it had notified all relevant authorities and was working with third-party experts to strengthen its systems. "Ferrari takes client confidentiality very seriously and recognizes the significance of this incident," the automaker stated.
According to the automaker, the breach had no effect on business operations. In October, Ferrari was allegedly hit by a ransomware attack, losing 7GB of data to threat actors.
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