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R&D Stolen in Volvo Cyberattack

The auto industry is "attractive to hackers."

On Dec. 10, Volvo announced that it had fallen victim to a cyberattack.

In a statement, the automaker confirmed “one of its file repositories has been illegally accessed by a third party.”

Volvo acknowledged that some of its R&D had been stolen, but referred to it as a “limited amount.”

The automaker says it “immediately implemented security countermeasures” when it detected the breach, and does not believe Volvo customers will be impacted.

That said, Volvo believes there may be an impact on its operation, though details were not immediately available.

The company has launched an investigation.

A recent report by CybelAngel, a digital risk protection platform, says the automotive industry is at “severe risk” for security breaches and ransomware threats.

They say, “The automotive sector in particular is attractive to hackers” and “now is the time for the industry to take action to lock down data.”

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