G-TEKT Europe Manufacturing Ltd Suffers Ransomware Attack by Hiveleak Group

Company Overview

G-TEKT Europe Manufacturing Ltd, also known as G-TEM, has been a market-leading tier one automotive manufacturer for over 25 years. They work with some of the largest and most prestigious car brands across Europe. The company's services include a full complement of capabilities to achieve OEM requirements.

Industry Standout

G-TEM is recognized for its innovative global manufacturing of vehicle body structures. They have been market-leading in the automotive manufacturing sector for over two decades, demonstrating their expertise and commitment to quality in the industry.

Vulnerabilities

The ransomware attack on G-TEM highlights the vulnerabilities of the manufacturing sector to cyber threats. Ransomware attacks have been on the rise, with ransomware-as-a-service (RaaS) becoming a primary business model for cybercriminals. The attack on G-TEM could have been facilitated by various vectors, such as phishing emails, unsecured remote access, or exploiting vulnerabilities in software or hardware.

The Hiveleak group, known for its ransomware attacks, has targeted G-TEM, demonstrating the need for robust cybersecurity measures to protect against such threats. Companies in the manufacturing sector must invest in security to be in a position where they do not pay ransom, as only 29% of businesses paid ransom in 2023, an all-time low.

Sources

• G-TEM | Award-Winning Automotive Manufacturer Based in the UK
• Ransomware hackers focus on North America, Europe - Axios
• Ransomware Targeting Automobiles - ACM Digital Library
• OpenText Cybersecurity Nastiest Malware of 2023 Shows Ransomware-as-a-Service Now Primary Business Model - PR Newswire