CDK Cyberattack Costs Auto Dealers Over $1 Billion, Hurts Earnings
TL;DR Summary
CDK Global, a company managing financial transactions for 15,000 U.S. car dealers, paid a $25 million ransom in bitcoin to end a two-week cyberattack by the BlackSuit ransomware group. The attack forced dealers to revert to manual processes, likely impacting June vehicle sales. CDK has not commented on the incident.
- CDK Dealer Outage Ends With A Ransom Worth Millions Of Dollars Jalopnik
- AutoNation says CDK outage will hurt its second-quarter bottom line Fox Business
- AutoNation warns CDK Global hack to hit second quarter earnings Yahoo Finance
- CDK cyberattack expected to cost car dealers more than $1 billion, Michigan study says Detroit Free Press
- Dealerships lost $1.02B in business after CDK cyberattack, updated AEG study says Automotive News
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
1 min
vs 2 min read
Condensed
83%
291 → 50 words
Want the full story? Read the original article
Read on Jalopnik