Cybersecurity Threat: Ransomware Attack on D&V Electronics by RansomHub
Incident Date:
April 17, 2024
Overview
Title
Cybersecurity Threat: Ransomware Attack on D&V Electronics by RansomHub
Victim
D&V ELECTRONICS Ltd.
Attacker
Ransomhub
Location
First Reported
April 17, 2024
Ransomware Attack on D&V Electronics by RansomHub
Company Profile
D&V Electronics, based in Vaughan, Canada, is a notable player in the manufacturing sector, specializing in the design and production of testers for electric motors, inverters, and automotive components like BSG/ISG motors, alternators, and starters. Founded in 1997, the company has grown to employ between 100-249 employees and reports an annual revenue of approximately $26 million. They company serves a global market, highlighting its significant role in the automotive testing industry.
Details of the Attack
The ransomware group RansomHub, which has been active since February 2024, has claimed responsibility for the attack on D&V Electronics. This group, known for its Ransomware-as-a-Service (RaaS) operations, targets various sectors worldwide, with a notable focus on healthcare.
Vulnerabilities and Industry Impact
Their integration of sophisticated electronic and software components into their products may present specific vulnerabilities, such as exposure to software exploits or system intrusions. The manufacturing sector, especially companies like D&V that are heavily reliant on digital technologies for testing and production, often faces significant risks from cyber threats, including ransomware attacks. These threats can lead to severe disruptions in manufacturing processes, loss of sensitive intellectual property, and financial losses due to downtime and ransom payments.
Sources
Recent Ransomware Attacks
The Recent Ransomware Attacks (RRA) site acts as a watchtower, providing you with near real-time ransomware tracking of attacks, groups and their victims. Given threat actors’ overarching, lucrative success so far, ransomware attacks have become the most ubiquitous, and financially and informationally impactful cyber threat to businesses and organizations today.
The site’s data is generated based on hosting choices of real-world threat actors, and a handful of other trackers. While sanitization efforts have been taken, we cannot guarantee 100% accuracy of the data. Attack updates will be made as source data is reported by reputable sources. By viewing, accessing, or using RRA you acknowledge you are doing so at your own risk.