[BreachExchange] Hackers Hit Italian Menswear Brand Boggi Milano With Ransomware

[Destry Winant]

https://www.bloomberg.com/news/articles/2021-03-31/hackers-target-italian-menswear-boggi-milano-with-ransomware

A group of hackers executed a ransomware attack Wednesday on Italian
menswear premium brand Boggi Milano, according to people familiar with
the matter and documents seen by Bloomberg.

The company confirmed that it was the victim of a cyber-attack and
that an investigation into the incident was under way. A Boggi Milano
representative said the company didn’t believe the attack had any
significant impact and that the company was cooperating with
authorities.

The hacker group called Ragnarok said on its dark web blog that it
targeted Boggi Milano servers and stole about 40 gigabytes of
corporate data including human resource files such as salary
information. The people familiar with the matter confirmed that it was
a ransomware attack and that 40 gigabytes of data was stolen.

Ransomware is a type of malware that locks computers and blocks access
to files in lieu of a payment. Companies targeted with ransomware must
pay the ransom via cryptocurrency or find another way to restore files
and rebuild computer networks.

The FBI estimates that at least $144.35 million (123 million euros) in
Bitcoin have been paid from 2013 to 2019 as ransom to hackers.

Founded in 1939, Boggi Milano is among the best known premium Italian
menswear brands. The company operates about 200 shops in 38 countries.